Comments
The country's foreign exchange reserves have gone up by $2.717 billion to $308.203 billion for the week ended April 8, according to the Weekly Statistical Bulletin released by the Reserve Bank of India.
The reserves have rise for two consecutive weeks. In the previous week ending April 1, forex reserves were up $2.004 billion to $305.486 billion.
In the week under consideration, foreign currency assets increased by $2.662 billion to $277.681 billion. The increase in reserves is mainly on account of currency revaluation. 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 leading to reserves denominated in euro being re-valued at higher levels. The euro moved up from $1.418 at the beginning of the week to $1.429 on April 8.
In the period, the country's reserve position at the International Monetary Fund increased by $21 million to $2.960 billion. Meanwhile, SDRs also posted a modest $34 million rise to $4.590 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.