LAHORE MIRROR (Reuters) — India’s foreign exchange reserves rose for the fifth straight week, reaching an over 20-month high of $615.97 billion as of Dec. 15, data from the Reserve Bank of India (RBI) showed on Friday.
The foreign exchange reserves rose by $9.1 billion in the reporting week, after climbing by a total of $16.5 billion in the prior four weeks.
Indian debt and equity markets have seen net inflows of $9.2 billion so far in December, after receiving $2.9 billion in November.
Central bank intervention in forex markets along with valuation changes impact reserves.
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 also include India’s Reserve Tranche position in the International Monetary Fund.
