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Foreign exchange reserves rise to $576 bn in January

This is the third consecutive week that the country's reserves have risen. During the week ending January 20, the foreign exchange reserves were $573.73 billion. The central bank has been intervening to buy dollars to stabilise the rupee. Apart from this, the valuation changes have also added to the RBI's foreign exchange reserves.

IANS

New Delhi | Friday, 03 February 2023 | 07:56 PM 07:56 PM

Growth-Chart — *Foreign exchange reserves rise to $576 bn in January*

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India's foreign exchange reserves rose to $576.76 billion during the week ending January 27, according to data released by the Reserve Bank of India (RBI) on Friday.

This is the third consecutive week that the country's reserves have risen. During the week ending January 20, the foreign exchange reserves were $573.73 billion.

The central bank has been intervening to buy dollars to stabilise the rupee. Apart from this, the valuation changes have also added to the RBI's foreign exchange reserves.