KARACHI: The rupee is expected to remain stable next week, amid slowing appetite for the hard currency, as well as positive sentiment after the Asia Pacific Group improved Pakistan’s rating.
KARACHI: The rupee posted slight gains against the dollar on Friday on the back of healthy supplies and easing demand from importers, dealers said.The rupee closed at 154.62/dollar, 0.11 percent up.
India s Foreign Exchange Reserves Surge By $5.271 Billion To Reach Record High Of $598.165 Billion
The RBI headquarters in Mumbai. (GettyImages)
India s foreign exchange reserves rose by $5.271 billion during the week ended 28 May.
According to the Reserve Bank of India s (RBI) weekly statistical supplement, the reserves increased to $598.165 billion from $592.894 billion reported for the week ended 21 May.
India s forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country s reserve position with the International Monetary Fund (IMF).
On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $5.010 billion to $553.529 billion.
Expressed in dollar terms, the foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound, and yen held in the foreign exchange reserves.
Reserve Bank of India (RBI) on Friday decided to leave benchmark interest rate unchanged at 4 per cent but maintained an accommodative stance amid the second COVID wave.