The rupee ended at 81.9650 immediately. (File)
Mumbai:
International change reserves fell for the fourth straight week to a three-month low of $560.94 billion as of the week ended Feb. 24, the Reserve Financial institution of India’s (RBI) statistical complement confirmed on Friday.
The reserves had been down by $330 million on the finish of final week, after falling by a complete of $15.5 billion within the earlier three weeks, knowledge confirmed. The reserves stood at $561.27 billion within the week to Feb. 17.
The central financial institution intervenes within the spot and forwards market to stop runaway strikes within the rupee’s change price towards the greenback. The RBI has mentioned prior to now that modifications in reserves additionally stem from valuation positive factors or losses.
The RBI has seemingly been promoting {dollars} to stop the rupee from falling under 83 to the greenback, foreign exchange market contributors advised Reuters.
Final week, the rupee was marginally greater towards the greenback, outperforming Asian friends, and traded in a skinny vary of 82.6100 to 82.8525.
The rupee ended at 81.9650 on Friday, posting its greatest weekly rise in almost two months.
(Apart from the headline, this story has not been edited by NDTV employees and is revealed from a syndicated feed.)
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