India's forex reserves rise by $5bn to $641bn

MUMBAI: India's forex reserve jumped by $4.8 billion to $640.5 billion in the week ended Feb 21, Reserve Bank said on Friday. In the previous reporting week, the overall reserves had dropped by $2.5 billion to $635.7 billion. The reserves have been on a declining trend for several weeks due to revaluation along with forex market interventions by RBI to help reduce volatility in the rupee. The forex kitty had increased to an all-time high of $704.9 billion in end-Sept 2024.