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 Sacramento Sun 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 Sacramento Sun.
More InformationSYDNEY, NSW, Australia - Stocks in Japan surged on Friday as investors and traders returned to their desks after a ...
LONDON, England: A survey conducted by YouGov and consultancy Cebr reported that UK consumer confidence slowly rose in July, after ...
DHAKA, Bangladesh - Foreign Minister AK Abdul Momen has stated that the Switzerland Ambassador to Bangladesh Nathalie Chuard's claims that ...
NEW YORK, New York - Stocks closed mixed the world over Thursday as investors struggled to get a clear picture ...
NEW YORK CITY, New York: In another frustrating day for U.S. travelers, on the morning of August 9, 153 flights ...
JAKARTA, Indonesia: A senior cabinet minister in Indonesia has told CNBC Indonesia that U.S. carmaker Tesla has signed contracts worth ...
WASHINGTON D.C.: The U.S. will participate in a joint military exercise in mid-October with India, less than 62 miles from ...
SEOUL, South Korea: South Korea has launched a domestically manufactured lunar orbiter that took off from Florida's Cape Canaveral Space ...
MOSCOW, Russia: A leading Russian scientist in the field of hypersonic flight, Dr. Alexander Shiplyuk, has been arrested on suspicion ...
LOS ANGELES, California: During a meeting that was disrupted by protesters this week, the Los Angeles City Council voted to ...
WASHINGTON D.C.: The U.S. Justice Department announced this week that former Puerto Rico governor Wanda Vazquez has been arrested in ...
OTTAWA, Ontario: Military trainers from Canada will head to the United Kingdom to teach Ukrainians new techniques for fighting the ...