ANI
06 Aug 2022, 19:27 GMT+10
Mumbai (Maharashtra) [India], August 6 (ANI): India's foreign exchange (forex) reserves rose by $2.315 billion to $573.875 billion for the week ended July 29 on the back of robust capital inflows in the equities markets and strengthening of rupee from the record low, the Reserve Bank of India (RBI) data showed.
The country's forex reserves have risen for the first time in the last five weeks under review. The forex reserves had declined by around $17 billion in the previous four weeks. For the week ended July 22, the forex reserves had dropped by $1.152 billion.
After four straight weeks of decline, the country's forex reserves have registered significant gains.
There was a sharp jump in the foreign currency assets and gold reserves.
According to the Reserve Bank of India's weekly statistical supplement, India's foreign currency assets, which are the biggest component of the forex reserves, rose by $1.121 billion to $511.257 billion during the week ended July 29.
The foreign currency assets had declined by $1.426 billion in the previous week.
Expressed in US dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-dollar currencies like Euro, UK's Pound Sterling and Japanese Yen held in the foreign exchange reserves.
There was a sharp increase in gold reserves. The value of gold reserves rose by $1.140 billion to $39.642 billion during the week ended July 29.
The value of India's Special Drawing Rights (SDRs) with the International Monetary Fund rose by $22 million to $17.985 billion during the week under review, the RBI data showed.
India's reserve position in the International Monetary Fund (IMF) rose by $31 million to $4.991 billion during the week ended July 29, as per the RBI Weekly Statistical Supplement. (ANI)
Get a daily dose of Birmingham News news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Birmingham News.
More InformationMANILA, The Philippines: The Philippines remains steadfast in its resolve not to yield to Chinese efforts to obstruct its fishermen ...
VICTORIA, Texas: This week, U.S. District Judge Drew Tipton in Victoria, Texas, ruled that President Joe Biden did not have ...
WASHINGTON D.C.: The National Transportation Safety Board (NTSB) said it is investigating a JetBlue flight on Monday that experienced sudden ...
SEOUL, South Korea: Marking a tougher stand against North Korea, South Korea held its first large-scale military parade in over ...
WASHINGTON D.C. After hundreds of deaths overseas from contaminated cough syrups, the U.S. Food and Drug Administration (FDA) has cracked ...
EL PASO, Texas: Over the weekend, Oscar Leeser, Mayor of El Paso, said that the surge in migrants crossing the ...
LONDON, UK: The UK government said over the weekend that it could downscale the scope of the High Speed 2 ...
New Delhi [India], September 30 (ANI): South African pace legend Dale Steyn on Saturday picked up five pacers he thinks ...
New Delhi [India], September 30 (ANI): India has raised with the United Kingdom foreign office and the police the incident ...
New Delhi [India], September 30 (ANI): BJP leader Manjinder Singh Sirsa has condemned the incident where Indian High Commissioner to ...
London [UK], September 30 (ANI): Indian High Commissioner to the United Kingdom Vikram Doraiswami was on Friday prevented from entering ...
Bhopal (Madhya Pradesh) [India], September 30 (ANI): The Indian Air Force (IAF) held an aerial display over Bhojtal Lake in ...