India's FX reserves rise by $4.8 bln to $640.48 bln in week ended Feb 21
This story was originally published at 18:31 IST on 28 February 2025
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--RBI: India Feb 21 FX reserves $640.48 bln, up $4.76 bln on week
NEW DELHI – India's foreign exchange reserves rose by $4.76 billion to $640.48 billion in the week ended Feb. 21, likely on the back of revaluation gains, the central bank data showed on Friday. The dollar index, which measures the strength in the dollar against a basket of six major currencies, declined over 0.1%, while the US Treasury yields fell over 5 bps in the reported week.
Calculated in dollar terms, the foreign currency reserves also reflect the impact of appreciation or depreciation of non-US units like the euro, the pound sterling, and the yen held in the reserves. Foreign currency assets rose by $4.25 billion to $543.84 billion as of Feb. 21. The portion of gold in the reserves jumped by $426 million to $74.58 billion.
Foreign exchange reserves are likely to rise in the week ended Mar. 7 as well, on the back of the central bank's $10-billion three-year dollar/rupee buy/sell swap auction on Friday, whose first leg of settlement will take place on Tuesday. End
US$1 = INR 87.50
Reported by Pratiksha
Edited by Deepshikha Bhardwaj
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