India’s forex reserves rise by $394 million to $631.92 billion: RBI data

Gordon B. Johnson

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India’s overseas exchange (forex trading) reserves rose by $394 million to $631.92 billion in the 7 days ended March 4 led by a sharp bounce in foreign currency property, the Reserve Bank of India (RBI) knowledge confirmed.

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The forex reserves had declined by $1.425 billion in the previous 7 days.&#13

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The international forex property, which is the biggest part of the currency trading reserves, jumped by $634 million to $565.466 billion during the week below evaluation, in accordance to the RBI’s weekly statistical health supplement.

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The international currency assets had dropped by $2.228 billion in the week ended February 25.

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Expressed in US dollar terms, the foreign forex assets involve the outcome of appreciation or depreciation of non-greenback currencies like Euro, UK’s Pound Sterling and Japanese Yen held in the foreign trade reserves.

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All other parts of the currency trading reserves posted declines through the 7 days underneath critique.

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The benefit of gold reserves dropped by $147 million to $42.32 billion, the RBI information confirmed.

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The value of India’s Exclusive Drawing Rights (SDRs) with the Worldwide Financial Fund (IMF) declined by $59 million to $18.981 billion. India’s reserve place in the IMF dropped by $34 million to $5.153 billion.

(Only the headline and picture of this report may possibly have been reworked by the Company Regular staff the relaxation of the content material is auto-created from a syndicated feed.)

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