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Forex reserves rise to record USD 62.72 billion
Mumbai, Oct 05: The country`s foreign exchange reserves rose further by USD200 million to a new record high of 62,721 million during the week ended September 27.
Mumbai, Oct 05: The country's foreign exchange reserves rose further by USD200 million to a new record high of 62,721 million during the week ended September 27.
The Reserve Bank of India's (RBI) weekly statistical bulletin showed that the entire growth in the total forex reserve was contributed by the ever increasing foreign currency assets which shot up further by USD 200 million to USD 59,503 million, while gold reserves and the special drawing rights remained unchanged at USD 3,208 million and USD 10 million respectively.
The continuous rise in foreign currency assets was mainly because of the RBI's indirect intervention in the forex market, mopping up excess dollar inflows through state-run banks to check the rupee's appreciation, forex dealers said. Bureau Report
The continuous rise in foreign currency assets was mainly because of the RBI's indirect intervention in the forex market, mopping up excess dollar inflows through state-run banks to check the rupee's appreciation, forex dealers said. Bureau Report