Forex kitty rises $1 billion
After multiple weeks of decline, the country’s foreign exchange reserves swelled by $1.054 billion to $393.132 billion in the week to November 2, driven by a jump in foreign currency assets and gold holdings, RBI data showed on Friday. Total reserves had dropped by $1.444 billion to $392.078 billion for the previous reporting week. After a long gap, gold reserves rose by $366.5 million to $20.888 billion, according to the latest RBI data. For the reporting week, foreign currency assets rose $487.7 million to $368.138 billion. The country’s reserve position with the International Monetary Fund rose $192.2 million to $2.639 billion.