In the earlier week, the reserves had increased by $3. The forex reserves have been seeing a rise for quite a few weeks now, mainly because the RBI has been buying dollars to keep the rupee from appreciating. In the week under consideration, foreign currency assets increased by $3. Foreign currency assets, as expressed in dollars include the effect of appreciation or depreciation in non-US currencies (euro, sterling and yen) held in reserves. SDRs increased by $6 million to touch $9 million and the country’s reserve position in the IMF increased by $1 million to touch $434 million. read more
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