Forex reserves rise to $286 billion
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India's foreign exchange reserves rose in the week ended November 22 by $2.69 billion to $286.26 billion, compared with the previous week, show RBI data released on Friday.
Foreign currency assets, a key component of reserves rose by $2.76 billion to $258.66 billion. Gold reserves for the week remained unchanged. For the week under review, the Special Drawing Rights rose by $9.1 million to $4.42 billion, while India's reserve position with the IMF was down $78.4 mn to $1.95 bn.
The partially convertible rupee closed at 62.44/45 per dollar, compared with 62.41/42 on Thursday. It weakened for a second consecutive session as month-end dollar demand from oil companies offset an increased global investor demand for risk that sent other currencies such as the euro higher. It notched a second consecutive weekly gain, helped earlier in the week by the rally in the euro and the biggest weekly gain in domestic shares since the week ended October 11.
Foreign currency assets, a key component of reserves rose by $2.76 billion to $258.66 billion. Gold reserves for the week remained unchanged. For the week under review, the Special Drawing Rights rose by $9.1 million to $4.42 billion, while India's reserve position with the IMF was down $78.4 mn to $1.95 bn.
The partially convertible rupee closed at 62.44/45 per dollar, compared with 62.41/42 on Thursday. It weakened for a second consecutive session as month-end dollar demand from oil companies offset an increased global investor demand for risk that sent other currencies such as the euro higher. It notched a second consecutive weekly gain, helped earlier in the week by the rally in the euro and the biggest weekly gain in domestic shares since the week ended October 11.
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First Published: Nov 30 2013 | 12:16 AM IST