ANI
06 Aug 2022, 14:57 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 Dublin 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 Dublin News.
More InformationNEW YORK, New York - U.S. stock markets closed firmly in positive territory to start the week Monday, with the S&P 500 and Dow Jones...
WASHINGTON, D.C.: On Friday, President Donald Trump announced that he was halting trade discussions with Canada due to its decision...
LONDON, U.K.: A little-known investment fund based in the United Arab Emirates has emerged as the most prominent public backer of U.S....
SAN FRANCISCO, California: Across the U.S., a growing number of people are taking obesity treatment into their own hands — literally....
SAN FRANCISCO, California: Under pressure from European regulators, Apple has revamped its App Store policies in the EU, introducing...
NEW YORK CITY, New York: The U.S. dollar tumbled this week, hitting its lowest levels since 2021 against the euro, British pound, and...
FRANKFURT, Germany: Germany has become the latest country to challenge Chinese AI firm DeepSeek over its data practices, as pressure...
DUBLIN, Ireland: Ireland's EU Commissioner Michael McGrath has defended Commission Vice President Kaja Kallas over her recent comments...
SAN FRANCISCO, California: Under pressure from European regulators, Apple has revamped its App Store policies in the EU, introducing...
BONN, Germany: Despite widespread belt-tightening across the United Nations, nearly 200 countries agreed this week to increase the...
DUBLIN, Ireland: Post-tax profits at Ballymaloe Cookery School rose by 53 percent in 2024 to 135,952 euros, helped by the buzz around...
DUBLIN, Ireland: A 63-year-old woman, Sigrid O'Meara from Ballincurry, Longford, is suing Boots Pharmacy in the High Court. She says...