BENGALURU – India’s foreign exchange reserves rose for a fourth straight week to $606.86 billion as of Dec. 8, data from the Reserve Bank of India (RBI) showed on Friday.
The reserves rose by $2.82 billion in the reporting week, after climbing by $13.7 billion in the previous three weeks.
Changes in foreign currency assets, expressed in dollar terms, include the effect of appreciation or depreciation of other currencies held in its reserves.
Foreign exchange reserves include India’s Reserve Tranche position in the International Monetary Fund.
For the week the forex reserves data pertains, the rupee traded in a narrow range of 83.26 to 83.40 against the dollar, and logged a weekly loss of 0.1%.
The currency settled at 83 on Friday and posted its biggest single-day gain in more than eight months.
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