21-01-2023
Watsupptoday Desk

India's foreign exchange reserves rose to $572 billion in the week through January 13, their highest level since early August last year, the Reserve Bank of India's statistical supplement showed on Friday. That is higher than the country's reserves of $561.58 billion for the week ended January 6 and the more-than-two-year low of $524.52 billion hit in October 2022.The central bank has intervened occasionally in the spot and forwards market to protect the rupee, while traders have cited instances of state-run banks purchasing dollars likely on behalf of the RBI.