Home Business Forex reserves rise for third straight week to $550 billion

Forex reserves rise for third straight week to $550 billion

For the week ended November 18, India’s reserves stood at $547.25 billion. (File)

Mumbai:

India’s foreign exchange reserves rose for the third consecutive week to $550.14 billion in the week to November 25, the Reserve Bank of India’s (RBI) weekly statistical supplement showed on Friday.

The country’s reserves stood at $547.25 billion for the week ended November 18.

Forex reserves have been rising since hitting a two-year low of $524 billion in October as the dollar index has fallen from its peak. The RBI has said in the past that changes in its reserves are a function of revaluation gains or losses as well as market intervention.

After volatility in early November, the Indian rupee has moved in a narrow band over the last two weeks, with traders believing it to remain stable in the range of 81-82 per dollar in the near term.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

featured video of the day

India will further strengthen ties with US: Nirmala Sitharaman

RELATED ARTICLES

Ashneer Grover, Madhuri Jain summoned in legal battle with BharatPe

<!-- -->Ashneer Grover resigned from BharatPe in March. (file)New Delhi: The Delhi High Court today issued summons to former BharatPe MD Ashneer Grover...

Air India’s $400 million upgrade includes premium economy area

<!-- -->Air India said it has engaged JPA Design to assist with the cabin interior design. (File)Mumbai: Full-service carrier Air India today said...

Inox GFL Group raises Rs 1,500 crore, moves towards zero net debt

<!-- -->Rs 740 crore was raised through the IPO of Inox Green Energy Services. (File)Noida: Inox GFL Group on Thursday said it has...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Nothing hurts more than if you lose your new phone-Virat Kohli. News & Features Network

An accident has happened with Virat Kohli. He has informed by tweeting some time ago that his new mobile phone has been lost....

What is the relationship between Modi and Gautam Adani? Rahul raised the issue of Adani in the Lok Sabha

Rahul Gandhi on Adani: During the budget session of Parliament today, the Adani group controversy was raging in the Lok Sabha. Congress leader...

BJP leader glorifies Sati, opposition says, uproar in Parliament

<!-- -->The ruckus started in the lower house of Parliament at around 1:06 pm.New Delhi: Opposition leaders in Lok Sabha today protested at the...

India vs Australia, 1st Test: Three Key Player Battles To Watch Out For | cricket news

India host Australia in a hotly anticipated four-match Test series starting on Thursday in Nagpur. The hosts have won each of the last...

Recent Comments