The RBI in WSS published the weekly forex reserves data. We see $ 11 bn week on week change in Fx reserves. Acc to my estimates, assuming 30% non USD Foreign currency assets, the $ 11 bn swing could be explained as $ 3 bn swing on account of valuation change and actual $ purchases of $ 8 bn.
From a low of $ 524.5 bn in the week ended 21 Oct 22, Fx reserves have steadily increased to $ 561 bn in the week ended Dec 2, 2022.
Comments
Post a Comment