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Forex reserves rise to $532.87 bn for the first time in over two months

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India’s rose to $532.87 billion in the week through Oct. 7, the Reserve Bank of India’s (RBI) weekly statistical supplement showed on Friday.


The country’s reserves rose by $204 million from the previous week, the first increase since the week ended July 29.


They were $532.66 billion at the end of the previous week ended Sept. 30.


The rupee settled at 82.35 on Friday, having touched another record low of 82.68 on Monday after which the RBI likely intervened on multiple days to fall, as per traders.


 


(Reporting by Anushka Trivedi in Mumbai; Editing by Savio D’Souza)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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