Mumbai, Aug 6: India’s forex reserves rose around $2.4 billion during the week ending July 29 after falling for the four consecutive weeks. The rise was seen on back of positive inflows by the foreign investors in the Indian equity market.
The country’s foreign exchange reserves rose by $2.315 billion to $573.875 billion during the week ending June 29, according to the Reserve Bank of India’s (RBI) weekly supplementary statistical data.
“India’s foreign exchange reserves, supplemented by net forward assets, provide insurance against global spillovers. Our umbrella remains strong,” RBI Governor Shaktikanta Das said.