Comments
The country's foreign exchange reserves increased by $2.294 billion to $316.801 billion for the week ended July 22, according to the weekly statistical bulletin released by the Reserve Bank of India.
The reserves have gone up in the week after posting a drop of $112 million to $314.507 billion in the previous week ended July 15.
The increase in reserves is mainly on account of currency revaluation. In the week under consideration, foreign currency assets went up by $2.227 billion to $284.526 billion. Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as the euro, sterling and yen, held in reserves.
The euro had strengthened against the dollar in the week. It had moved from $1.404 at the beginning of the week to $1.422 on July 22.
In the week under review, the country's reserve position at the International Monetary Fund rose by $26 million to $2.982 billion. SDRs also saw a $41 million increase to $4.625 billion.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.