Forex reserves rise for second week, $2.54 billion up to $547.25 billion

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For the week ending Nov. 11, the country’s reserves stood at $544.72 billion. (File)

Bombay:

India’s foreign exchange reserves rose for a second week to $547.25 billion in the week ending Nov. 18, the Reserve Bank of India’s (RBI) weekly statistical supplement shows.

It was a volatile week for the rupee as sharp moves returned it to trading in the 81-per-dollar handle near 80.50.

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The currency moved in a narrow band in the week ending Nov. 25, closing unchanged at 81.6850.

For the week ending Nov. 11, the country’s reserves stood at $544.72 billion. Overall, they are down from $632.7 billion at the start of this year as the RBI sold some of its reserves to reduce volatility in the currency markets.

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