The reserves stood at $560.94 billion within the week to Feb. 24. (File)
Mumbai:
India’s international alternate reserves rose for the primary time in 5 weeks and stood at $562.40 billion as of the week ended March 3, the Reserve Financial institution of India’s (RBI) statistical complement confirmed on Friday.
The reserves elevated by $1.46 billion on the finish of final week after falling by a complete of $15.8 billion within the earlier 4 weeks, the information confirmed.
The reserves stood at $560.94 billion within the week to Feb. 24.
The central financial institution intervenes within the spot and forwards market to stop runaway strikes within the rupee’s alternate charge towards the greenback. The RBI has mentioned up to now that modifications in reserves additionally stem from valuation beneficial properties or losses.
Final week, the rupee gained 0.9% towards the greenback, logging its greatest weekly rise in almost two months, and strengthened past 82 for the primary time in a month.
It traded in a variety of 81.92 to 82.95 that week.
For the present week, the rupee ended little modified at 82.04 on Friday.
(Apart from the headline, this story has not been edited by NDTV employees and is printed from a syndicated feed.)
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