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 Bank 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 info 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 forestall runaway strikes within the rupee’s alternate price in opposition to the greenback. The RBI has stated previously that modifications in reserves additionally stem from valuation positive aspects or losses.
Last week, the rupee gained 0.9% in opposition to the greenback, logging its largest weekly rise in practically two months, and strengthened past 82 for the primary time in a month.
It traded in a spread of 81.92 to 82.95 that week.
For the present week, the rupee ended little modified at 82.04 on Friday.
(This story has not been edited by Business Standard employees and is auto-generated from a syndicated feed.)
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