Key Points
Forex reserves of India have witnessed a surge by $5.077 billion, reaching a total of $595.397 billion, according to the latest data released on Friday by the Reserve Bank of India (RBI)..
Earlier, there was a decrease of $462 million in forex reserves, bringing the total to $590.32 billion for the week ending November 10..
The reserves suffered a decline as the central bank utilized its funds to safeguard the rupee against pressures primarily stemming from global developments over the past year..
When measured in dollars, the foreign currency assets reflect the impact of the appreciation or depreciation of non-US currencies, such as the euro, pound, and yen, held in the foreign exchange reserves..
Gold reserves increased by $527 million, reaching $46.04 billion, and Special Drawing Rights (SDRs) saw a rise of $120 million, reaching $18.13 billion..
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