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.
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