INSUBCONTINENT EXCLUSIVE:
is the sharpest since the week ended December 2, 2022
According to analysts the increase in the reserves was owing to a positive valuation impact in the face of a weaker US dollar as well as
to $505.52 billion, the data showed.
In the previous week, the US dollar index weakened sharply as data showed slowing inflation in the
country, strengthening the case for the Federal Reserve to reduce the pace of its monetary tightening
payments has improved and so have valuations
There were likely some dollar purchases by the RBI
currency from sharp appreciation
It has absorbed the dollar inflows (Start-up funding inflows)
said.
The foreign exchange reserves increased by $28.9 billion since September-end and stood at $561.6 billion as on January 6, covering
In November 2022, the central bank net purchased US dollars for the first time since May 2022.
From June to October of 2022, the RBI was a
aggressive rate hikes by the Federal Reserve.
