India’s Forex Reserves Jump $2.6 Billion To $586 Billion, Gold Reserves Up By $499 Million
India's forex reserves had reached an all-time high of $645 billion in October 2021.Special drawing rights were down by $15 million to $17.91 billionIndia’s foreign exchange reserves jumped $2.579 billion to $586.111 billion in the week ended October 27, according to the latest RBI data. In the previous reporting week, the overall reserves had dropped by $2.363 billion to $583.532 billion.In October 2021, the country’s forex kitty had reached an all-time high of $645 billion. The reserves took a hit as the central bank deployed the foreign currency reserve to defend rupee amid pressures caused majorly by global developments since last year.For the week ended October 27, the foreign currency assets, a major component of the reserves, increased by $2.303 billion to $514.504 billion, accordi...