MUMBAI: India's foreign exchange reserves rose to $544.72 billion in the week through November 11, marking their biggest weekly jump in more than a year, the Reserve Bank of India's (RBI) weekly statistical supplement showed on Friday.
The country's reserves were at $529.99 billion by November 4. They are still down from around $630 billion at the beginning of this year as the Reserve Bank of India sold a portion of the reserves to prevent a sharp fall in the rupee this year, Reuters
reported.
In the week ended November 11, softer-than-expected US inflation data helped the rupee mark its best weekly performance in about four years and strengthened it to the 80-per-dollar handle for the first time since mid-September.
For the current week, the local currency gave back some of those gains to end down 1.1 per cent at 81.6850 per dollar.
Meanwhile, the rupee declined by 96 paise or 1.18 per cent in the week to Friday.
Rupee continued to trade in a narrow range and volatility remained low in the past few sessions. Despite economic calendar being a little heavy, reaction on the rupee has
been muted.