India’s forex reserves rise to $315.77 bn
07/07/2014 11:47
India’s forex reserves surged in the week ended June 27, 2014 as foreign investors pumped in funds into the country’s equity market amid hopes that the new Modi government may announce some key reforms in the upcoming budget to help accelerate growth in Asia’s third biggest economy, which has grown below the 5 per cent mark in the past several quarters. Forex reserves rose by USD 856.6 million to USD 315.778 billion in the week ended June 27, 2014 from the previous week, data from the central bank the Reserve Bank of India (RBI) showed on Saturday. In the week ended June 20, 2014, India's forex reserves had risen by USD 1.385 billion to USD 314.922 billion. Foreign currency assets, which are expressed in dollar terms and include the effect of appreciation or depreciation of non US currencies such as euro, pound and yen held in reserves, rose by USD 850.9 million to USD 288.812 billion in the week ended June 27, 2014 from the previous week, the RBI added. Foreign currency assets are the biggest component of the overall forex reserves. India's gold reserves stood unchanged at USD 20.790 billion in the week ended June 27, 2014 from the previous week, data showed.
07/07/2014 11:47
India’s forex reserves surged in the week ended June 27, 2014 as foreign investors pumped in funds into the country’s equity market amid hopes that the new Modi government may announce some key reforms in the upcoming budget to help accelerate growth in Asia’s third biggest economy, which has grown below the 5 per cent mark in the past several quarters. Forex reserves rose by USD 856.6 million to USD 315.778 billion in the week ended June 27, 2014 from the previous week, data from the central bank the Reserve Bank of India (RBI) showed on Saturday. In the week ended June 20, 2014, India's forex reserves had risen by USD 1.385 billion to USD 314.922 billion. Foreign currency assets, which are expressed in dollar terms and include the effect of appreciation or depreciation of non US currencies such as euro, pound and yen held in reserves, rose by USD 850.9 million to USD 288.812 billion in the week ended June 27, 2014 from the previous week, the RBI added. Foreign currency assets are the biggest component of the overall forex reserves. India's gold reserves stood unchanged at USD 20.790 billion in the week ended June 27, 2014 from the previous week, data showed.
