India's Foreign Exchange Reserves Rise In Week Ended June 26
Friday,
03-Jul-2020
05:15 PM (IST)
India's foreign exchange reserves rose to $506.84 billion on Jun. 26, against $505.57 billion at the end of the prior week, the Reserve Bank of India said today. The reserves had hit a record high of $507.64 billion on Jun. 12. Foreign currency assets rose marginally to $467.60 billion on Jun. 26 from $467.04 billion in the previous week, the RBI data showed. Gold assets climbed to $33.52 billion from $32.82 billion in the previous week. The central bank intervenes in the foreign exchange market to curb the rupee’s volatility. It bought net $14.21 billion in the spot foreign exchange market during January-April after net buying $40.27 billion in the spot market in 2019.
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