Forex Reserves See Sharpest Rise In 2 Years

New Delhi: After the $10 billion forex swap undertaken by the central bank on February 28, when it bought dollars against rupee to inject liquidity in the system, the country’s foreign exchange reserves saw a huge $15.267 billion spike during the week ended March 7.

The sharp rise during the week was the sharpest jump in over two years. The forex reserves had increased to an all-time high of $704.885 billion in September last year 2024.

Foreign currency assets, a major component of the reserves, increased by $13.993 billion to $557.282 billion.