 "Forex reserves up $1.09 bn; back to April level")
Foreign exchange reserves rose $1.09 billion for the week ended March 7 to $295.45 billion, back to the level seen at the start of the current financial year.
The latest Reserve bank of India (RBI) data show that for the week ended April 26, the reserve position stood at $296.37 billion.
Foreign currency assets, a key component of reserves, rose by $1.07 billion to $267.97 billion. Gold reserves remained unchanged during the week.
Foreign exchange reserves had hit a 39-month low on September 6 when it touched $274 billion. Following several steps taken by the central bank to encourage inflows, the reserves started rising.
The latest Reserve bank of India (RBI) data show that for the week ended April 26, the reserve position stood at $296.37 billion.
Foreign currency assets, a key component of reserves, rose by $1.07 billion to $267.97 billion. Gold reserves remained unchanged during the week.
Foreign exchange reserves had hit a 39-month low on September 6 when it touched $274 billion. Following several steps taken by the central bank to encourage inflows, the reserves started rising.
For the week under review, the Special Drawing Rights (SDRs) rose by $12.6 million to $4.48 billion, while India's reserve position with the International Monetary Fund was up $5.7 million to $2.01 billion.
According to currency dealers due to the growing foreign exchange reserves of RBI, India is better placed to face further tapering by the US Fed.
According to currency dealers due to the growing foreign exchange reserves of RBI, India is better placed to face further tapering by the US Fed.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%