Forex reserves rise $9.112 bn to $615.971 bn

Mumbai: India’s forex reserves jumped $9.112 billion to $615.971 billion in the week ended December 15 and the quantum of increase is one of the highest for a week, according to RBI data. In the previous reporting week, the overall reserves had risen $2.816 billion to $606.859 billion. In October 2021, India’s forex kitty reached an all-time high of $645 billion.

The reserves took a hit as the central bank deployed the kitty to defend the rupee amid pressures caused majorly by global developments since last year. For the week ended December 15, the foreign currency assets, a major component of the reserves, increased $8.349 billion to $545.048 billion, as per the Reserve Bank of India (RBI) data released on Friday.