MUMBAI: After multiple weeks of decline, India’s forex reserves increased by $1.2 billion to $585.9 billion during the week ended October 13, according to the RBI data. In the previous reporting week, the reserves had dropped by $2.2 billion to $584.7 billion.
In October 2021, the country’s forex kitty reached an all-time high of $645 billion. The reserves took a hit as the central bank deployed the reserves to defend the rupee amid pressures caused majorly by global developments since last year.
