 "Forex reserves rise $1.83 bn in a week")
Foreign exchange (forex) reserves rose in the week ending October 25 by $1.83 billion to $282.95 billion, shows Reserve Bank of India (RBI) data released on Friday.
Foreign currency assets, a key component of reserves, rose to $254.50 billion, a rise of $1.81 billion during the week. Gold reserves remained unchanged. For the week under review, the Special Drawing Rights rose by $13.7 million to $4.47 billion, while India’s reserve position with the International Monetary Fund was up $6.9 million to $2.21 billion.
However, the rupee ended weak on Friday due to upbeat US data which led some investors to factor-in a less dovish stance by the US Fed.
Government bond yields also inched up on Friday. The yield on the 10-year benchmark government bond 7.16 per cent 2023 ended at 8.70 per cent compared with the previous close of 8.63 per cent.
Foreign currency assets, a key component of reserves, rose to $254.50 billion, a rise of $1.81 billion during the week. Gold reserves remained unchanged. For the week under review, the Special Drawing Rights rose by $13.7 million to $4.47 billion, while India’s reserve position with the International Monetary Fund was up $6.9 million to $2.21 billion.
However, the rupee ended weak on Friday due to upbeat US data which led some investors to factor-in a less dovish stance by the US Fed.
Government bond yields also inched up on Friday. The yield on the 10-year benchmark government bond 7.16 per cent 2023 ended at 8.70 per cent compared with the previous close of 8.63 per cent.
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