For the week ended Nov. 18, the nation’s reserves have been at $547.25 billion.
Since hitting an over two-year low of $524 billion in October, foreign exchange reserves have been rising because the greenback index fell off its peak. The RBI prior to now has mentioned modifications in its reserves is a perform of revaluation beneficial properties or losses, in addition to market interventions.
After the volatility in early November, the Indian rupee has moved in a slender band over the previous two weeks, with merchants reckoning it will stay secure between the 81-82 per greenback vary within the close to time period.
(Reporting by Anushka Trivedi in Mumbai; Modifying by Janane Venkatraman)