Foreign reserves increased by $ 1.65 billion, RBI released data
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Forex Reserves: India’s foreign exchange reserves increased by $1.65 billion to reach $586.41 billion in the week ended April 14. Earlier, in the week ending April 7, foreign exchange reserves had increased by $ 630 million (Rs 51.7 thousand crore).
Foreign reserves reached $ 586.41 billion
According to the data released today by the Reserve Bank of India (RBI), the country’s foreign exchange reserves increased by $ 1.65 billion, or Rs 13.5 thousand crore, to reach $ 586.41 billion. If the RBI spends from the reserve to reduce the pressure on the rupee, it declines. For this, RBI intervenes in both the spot and futures markets. Foreign currency assets expressed in dollars also include the effects of movements in non-US currencies such as the euro, pound and yen.
Rupee strengthened for the second consecutive trading session
On the other hand, if we talk about the rupee, it has strengthened in the second consecutive trading session. Today, on the support of the fall in crude oil, it strengthened by 8 paise to reach Rs 82.09 against the US dollar. However, a sluggish trend in domestic equities and foreign fund outflows limited the rupee’s gains. The rupee has strengthened by 15 paise in two trading sessions. Whereas, the global oil benchmark Brent crude futures fell 0.15 per cent to $80.98 per barrel.
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