Foreign Exchange Reserves Rise At The Fastest Pace Since August 2021

India's foreign exchange reserves witnessed the fastest pace of accretion since August 2021, for the week ended Nov. 11, according to the RBI.

Foreign exchange reserves rose by $14.7 billion to $544.7 billion, according to the Reserve Bank of India's weekly statistical supplement, released on Friday.

In August 2021, forex reserves had risen by $16.66 billion in the week ended Aug. 27, compared to the week before.

"Our forex reserves played a critical role in cushioning the impact of severe turmoil witnessed in the global markets in recent months," RBI Deputy Governor T Rabi Sankar had said, in a speech last month.

Reserves continue to be healthy and complement the strong macroeconomic fundamentals of the Indian economy, Sankar said.