ANI
02 Jul 2022, 17:03 GMT+10
New Delhi [India], July 2 (ANI): India's foreign exchange reserves rose by $2.734 billion to $593.323 billion during the week that ended on June 24, the Reserve Bank of India's weekly data showed.
According to the RBI's data, India's foreign currency assets, which are the biggest component of the forex reserves, rose $2.334 billion to $529.216 billion during the said week.
Further, gold reserves rose $342 million to $40.926 billion, special drawing rights rose by $55 million to $18.210 billion, and the country's reserve position with International Monetary Fund up by $3 million to $4.970 billion.
In the preceding week that ended on June 17, the reserves slumped by $5.87 billion to $590.588 billion as foreign portfolio investors pulled money out of the Indian equities amid mounting concerns of global recession.
The country's forex reserves had dropped for the third consecutive week, before rising last week, on account of RBI's likely intervention in the market to defend depreciating rupee.
During the preceding three weeks, the country's forex reserves had dropped persistently and it slumped by $10.785 billion cumulatively.
Typically, the RBI intervenes in the market through liquidity management, including through selling of dollars, with a view to preventing a steep depreciation in the rupee. (ANI)
Get a daily dose of Mexico Star 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 Mexico Star.
More InformationDUBLIN, Ireland - A €65 million fund to drive solutions to the green transition and to digital transformation was launched ...
New Delhi [India], August 9 (ANI): To take forward the process of widespread consultation for the development of the new ...
Karachi [Pakistan], August 9 (ANI): Horrid memories of the tragic event of the 2009 Ashura blast case, the victims of ...
Lexington, Kentucky - U.S. President Joe Biden pledged more federal help to flood-ravaged eastern Kentucky on Monday after touring the ...
Kabul [Afghanistan], August 9 (ANI): Fears have intensified due to an increase in violence in Kabul during the final days ...
Geneva [Switzerland], August 9 (ANI): UN human rights experts on Monday (local time) condemned the extensive, prolonged and repeated use ...
SOLOMON ISLANDS: In a move that opponents said is aimed at controlling and censoring the media, the government of the ...
WASHINGTON D.C.: In July, a Florida man was killed by exploding Takata airbag inflators, possibly becoming the 20th death in ...
Israel has launched an unprovoked war against the Palestinian resistance group Islamic Jihad. The Israeli army assassinated a high-ranking commander ...
ISLAMABAD, Pakistan - Pakistan categorically denied on Thursday that a U.S. drone strike in Kabul that killed al-Qaeda chief Ayman ...
EAST NUSA TENGGARA, Indonesia: Hundreds of Indonesian tourism workers went on strike this week to protest a sharp rise in ...
NASSAU, Bahamas: A team of explorers have announced that they have uncovered a treasure, including coins, gemstones and priceless jewels, ...