Forex kitty rises $5.98 billion to $578.78 billion

In a second consecutive weekly increase, India's forex reserves rose $5.977 billion to $578.778 billion in the week ended March 24, the Reserve Bank of India said on Friday. It can be noted that in October 2021, the country's forex kitty had reached an all-time high of $645 billion. The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused majorly by global developments.