NEW DELHI: India’s foreign exchange reserves rose for the third straight week, to $550.14 bn in the week through Nov. 25, the RBI weekly statistical supplement showed on Friday.
For the week ended Nov. 18, the reserves were at $547.25 bn. Since hitting an over two-year low of $524 bn in October, forex reserves have been rising as the dollar index fell off its peak.
The RBI in the past has said changes in its reserves is a function of revaluation gains or losses, as well as market interventions.
After the volatility in early November, the Indian rupee has moved in a narrow band over the past two week.