India’s overseas trade reserves rose for the third straight week, to $550.14 billion within the week by way of Nov. 25, the Reserve Financial institution of India’s (RBI) weekly statistical complement confirmed on Friday.
For the week ended Nov 18, the nation’s reserves had been at $547.25 billion.
Since hitting an over two-year low of $524 billion in October, foreign exchange reserves have been rising because the greenback index fell off its peak. The RBI previously has mentioned adjustments in its reserves is a perform of revaluation positive factors or losses, in addition to market interventions.
After the volatility in early November, the Indian rupee has moved in a slender band over the previous two weeks, with merchants reckoning it will stay steady between the 81-82 per greenback vary within the close to time period.
(Aside from the headline, this story has not been edited by NDTV employees and is revealed from a syndicated feed.)
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