Foreign exchange reserves bounce to 2-year excessive of $636 billion – Instances of India

MUMBAI: The nation’s overseas alternate reserves rose for a 3rd straight week and reached a greater than two-year excessive of $636.1 billion as of March 8, knowledge from the central financial institution Confirmed on Friday.
The reserves jumped by $10.5 billion within the reporting week, the most important bounce because the week ended July 14, 2023. They’d risen by a complete of $9.5 billion within the prior two weeks, edging in direction of their document excessive of $642.5 billion, hit in Sept. 2021.RBI intervenes within the foreign exchange market to curb extra volatility. reuters