Forex reserves up $1.5 bn

India’s foreign exchange reserves rose $1.524 billion in the week up to July 24 to $267.71 billion, partly due to inflows by foreign institutional investors (FIIs) and revaluation of currencies.

FIIs pumped $550.1 million into capital markets over the week. However, over the same period, total foreign exchange reserves fell Rs 523 crore in rupee terms. Foreign currency assets rose $1.519 billion to $256.657 billion while gold reserves and special drawing rights remain unchanged.