India’s forex reserves up $2.71 bn to $320.56 bn
04/08/2014 00:34
India’s foreign exchange reserves rose for the eighth week on the trot as foreign currency assets climbed, pushing the country’s forex reserves to near an all-time high as foreign investors continued to pump money into India amid bullish sentiment following the arrival of the Modi government. Forex reserves rose by USD 2.714 billion to USD 320.56 billion in the week ended July 25 2014 from the previous week, data from the country’s central bank, the Reserve Bank of India (RBI) showed on Friday. Foreign exchange reserves are closing in on the USD 321 billion mark achieved in September 2011. In the week ended July 18, 2014, India's forex reserves had risen to USD 317.85 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 2.73 billion to USD 293.78 billion in the week ended July 25, 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 20.634 billion in the week ended July 25, 2014 from the previous week, data showed.
04/08/2014 00:34
India’s foreign exchange reserves rose for the eighth week on the trot as foreign currency assets climbed, pushing the country’s forex reserves to near an all-time high as foreign investors continued to pump money into India amid bullish sentiment following the arrival of the Modi government. Forex reserves rose by USD 2.714 billion to USD 320.56 billion in the week ended July 25 2014 from the previous week, data from the country’s central bank, the Reserve Bank of India (RBI) showed on Friday. Foreign exchange reserves are closing in on the USD 321 billion mark achieved in September 2011. In the week ended July 18, 2014, India's forex reserves had risen to USD 317.85 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 2.73 billion to USD 293.78 billion in the week ended July 25, 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 20.634 billion in the week ended July 25, 2014 from the previous week, data showed.
