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Business & Finance

India’s forex reserves jump to 9-month high at $584.76bn

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By Reuters
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MUMBAI: India’s foreign exchange reserves jumped to $584.76 billion for the week ended April 7, the highest in nine months, the Reserve Bank of India’s (RBI) statistical supplement showed on Friday.

That is an increase of $6.3 billion from the previous week.

The central bank intervenes in the spot and forwards markets to prevent runaway moves in the rupee. Changes in forex reserves also stem from valuation gains or losses.

For the reported week, the rupee ended 0.3% higher against the U.S. dollar. The Indian unit traded in a wide range of 81.8300 to 82.4550 to the dollar.

The rupee closed at 81.85 on Thursday and clocked its fourth consecutive weekly rise for the holiday-shortened week ending April 14.

RBI Reserve Bank of India India’s foreign exchange reserves

Comments

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Tulukan Mairandi Apr 14, 2023 06:53pm
Meanwhile we are begging, crying, kneeling and pleading for $1 billion. There is no comparison anymore!
0
Doc Asad Apr 14, 2023 08:12pm
Fortunately they dont have "neutrals" there in India
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Kashif ALI Apr 15, 2023 12:09am
I just wish that brainless stupid Pakistanis stop saying memes about Neutrals and begging and crying and better do a soul searching of themselves. Indians are 6 times Pakistan in population number. But their economic numbers are far far above than population ratio. Instead of blaming the 3rd party internal factors, Pakistanis are to blame themselves for all the mess. Even today, they are nothing more less the rodents that blindly followed the Pied Piper (by playing to his tunes). Our elders who are 70+ years old have still not learnt from their own follies and mistakes of past 50 years and the current generation is as selfish - rather more - as caring a damn about this country. When a common man of Pakistan will become a true human being and Pakistani, only then the fate of this country will change, otherwise, NEVER.
0
Meher Yar khan Apr 15, 2023 04:01am
@Doc Asad, unfortunately they also don't have murshid Imran Khan and bhutni phirni
0
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