India’s foreign exchange reserves climbed to $294.158 billion for the week ended Oct 1 increasing by $2.563 billion on account of revaluation of Indian rupee versus US dollar, Bank of India announced in its latest report on Friday.
The Indian rupee rise against US dollar has continued for last three weeks enhancing Indian foreign reserves in US dollars. The total value of Indian reserves has decreased in Indian rupee from Rs.16,214 crore to Rs.13,14,789 crore, whereas drop in US dollar has substantially enhanced the Indian foreign exchange reserves in dollars.
Indian rupee and European euro has risen because of sharp decline in US dollar. A dealer of a public sector bank told the media that euro’s gain against the dollar led to the revaluation of euro based reserves at higher levels in the week under review.
Foreign exchange reserves in US dollars incorporate the outcome of decline or rise of non-US currencies.
Gold reserves enlarged by $508 million to $20.516 billion. Special Drawing Rights (SDRs) increased by $56 million to $5.139 billion. The reserve position with International Monetary Fund (IMF) rose $21 million to $1.996 billion.
Ibrahim Sajid Malick is a Pakistani-American writer, technologist, and social entrepreneur. He has been writing on Pakistani society and politics since 1986. He has held several media, communications, and technology positions for organizations large and small. Mr. Malick graduated from New School for Social Research with a master’s degree in anthropology. He holds several technology and management certifications. He works for a leading technology firm and blogs at www.ibrahimsajidmalick.com
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[...] India's forex Reserve rose to $294.16bnPakistani Politics and EconomyIndia's foreign exchange reserves climbed to $294.158 billion for the week ended Oct 1 increasing by $2.563 billion on account of revaluation of Indian …India's forex reserves rise to $294.16bnTimes of IndiaIndia's forex reserves increase $2.56 billion as on Oct. 1International Business TimesForex reserves rise $2.56 bHindu Business LineRTT News -Economic Timesall 20 news articles » [...]
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[...] India's forex Reserve rose to $294.16bnPakistani Politics and EconomyIndia's foreign exchange reserves climbed to $294.158 billion for the week ended Oct 1 increasing by $2.563 billion on account of revaluation of Indian …India's forex reserves rise to $294.16bnTimes of IndiaIndia's forex reserves increase $2.56 billion as on Oct. 1International Business TimesForex reserves rise $2.56 bHindu Business LineRTT News -Economic Timesall 20 news articles » [...]
[...] India's forex Reserve rose to $294.16bnPakistani Politics and EconomyIndia's foreign exchange reserves climbed to $294.158 billion for the week ended Oct 1 increasing by $2.563 billion on account of revaluation of Indian …India's forex reserves rise to $294.16bnTimes of India [...]
[...] India's forex Reserve rose to $294.16bnPakistani Politics and EconomyIndia's foreign exchange reserves climbed to $294.158 billion for the week ended Oct 1 increasing by $2.563 billion on account of revaluation of Indian …India's forex reserves rise to $294.16bnTimes of IndiaForex reserves rise $2.56 bHindu Business LineIndia's Forex Reserves IncreaseRTT NewsEconomic Timesall 20 news articles » [...]
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[...] increase for the 3rd consecutive …India's forex reserves rise to $294.16bnTimes of IndiaIndia's forex Reserve rose to $294.16bnPakistani Politics and EconomyForex reserves rise $2.56 bHindu Business LineRTT News -Economic [...]