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 San Jose 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 San Jose Sun.
More Information(Photo credit: Kiyoshi Mio-Imagn Images) Left-hander Sean Manaea finally appears set to make his season debut for the New York Mets....
(Photo credit: Thomas Shea-Imagn Images) It was fitting that the Astros had to dig deep into their reconfigured bench in the latter...
(Photo credit: Patrick Gorski-Imagn Images) After hitting their season's low point a week ago, the Cleveland Guardians have reversed...
(Photo credit: David Richard-Imagn Images) In a span of 10 pitches Saturday, the Cincinnati Reds ensured they wouldn't be swept for...
(Photo credit: David Butler II-Imagn Images) The Boston Red Sox will be looking to extend their winning streak to 10 games Sunday...
(Photo credit: Eric Canha-Imagn Images) In his 51st career start, Garrett Crochet accomplished two feats in one dominant outing:...
WASHINGTON, D.C.: Filmmaker Peter Jackson's lifelong fascination with the extinct giant New Zealand flightless bird called the moa...
NEW DELHI, India: India has submitted a revised proposal to the World Trade Organization (WTO) in Geneva to implement retaliatory tariffs...
SAN FRANCISCO, California: Nvidia, the Silicon Valley chipmaker at the heart of the artificial intelligence boom, this week briefly...
REDMOND, Washington: Artificial intelligence is transforming Microsoft's bottom line. The company saved over US$500 million last year...
WASHINGTON, D.C.: A federal rule designed to make it easier for Americans to cancel subscriptions has been blocked by a U.S. appeals...
BASTROP, Texas: In a surprising turn at Elon Musk's X platform, CEO Linda Yaccarino announced she is stepping down, just months after...