 "India's foreign exchange reserves snap a three-week losing streak")
India’s foreign exchange reserves snapped a three-week losing streak and increased by $708 million to $602 billion in the week ended August 11, latest data by the Reserve Bank of India showed.
The rise in the reserves was mainly on account of an increase in the foreign currency assets, which grew by $999 million to $534 billion in the previous week.
The reserves had fallen by $2.4 billion to $601 billion for the week ended on August 4 and by $7.6 billion in the prior three weeks.
The special drawing rights saw a rise of $51 million, whereas gold reserves and the reserve position in the International Monetary Fund fell by $340 million and $2 million, respectively.
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