India now has $547.25 billion in foreign exchange reserves, up $2.54 billion.

India's foreign currency reserves increased by USD 2.54 billion to USD 547.25 billion . The forex reserves have been falling for months now, even after the RBI intervened in the market to shield the depreciating rupee from a deteriorating US dollar .

New Delhi (India), November 25, 2018: According to RBIs latest estimates, India's foreign currency reserves increased by USD 2.54 billion to USD 547.25 billion during the week ending on November 18.The forex reserves have been falling for months now, even after the RBI intervened in the market to shield the depreciating rupee from a deteriorating US dollar.Increased import prices have also pushed the demand for trade settlement reserves in the Indian currency, which has fallen to new all-time lows in recent weeks, as the US dollar strengthened against major global currencies.The RBI also intervened in the market by means of liquidity control, including by selling dollars, to avoid a sharp decline in the rupee.

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