MUMBAI: India’s foreign exchange reserves remained largely unchanged at $594.86 billion as of Aug. 25, data from the country’s central bank showed on Friday.
Forex reserves fell by a marginal $30 million for the week, compared to a $7.27 billion drop in the week ended Aug. 18, the data showed.
The changes in foreign currency assets, expressed in dollar terms, include the effects of appreciation or depreciation of other currencies held in the Reserve Bank of India’s (RBI) reserves.
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The forex reserves also include India’s Reserve Tranche position in the International Monetary Fund.
The RBI intervenes in the spot and forwards markets to prevent runaway moves in the rupee.
In the week for which the forex reserves data pertains, the rupee gained 0.6% against the US dollar, and traded in a range of 82.3625 to 83.1275. The currency closed at 82.7150 on Friday, but was slightly down week-on-week.
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