Forex Reserves Rise By Over $2 Billion

Saturday, 2 July 2022newsdesk

India's foreign exchange reserves rose over $2 billion in the week ending June 24 after falling for three weeks in a row, as the dollar stuttered against most major currencies even as the rupee's plunge to new record lows continued.

New Delhi, 02 July 2022

As per news report of NDTV, the country's forex reserves rose by $2.735 billion to $593.323 billion during the week ending on June 24, from $590.588 billion in the prior week, according to the latest Reserve Bank of India's weekly supplement data. While the rupee hit a series of all-time low levels against the dollar during that week, the shine of the greenback's allure was off somewhat against its major peers that week, as investors recalibrated inflation and rate hike risks on weakening demand outlook.

Source -NDTV