India's forex reserves increased by $ 3.03 billion to $ 576.76 billion for the week ended January 27, stated data by Reserve Bank of India. This is the third consecutive week that India's forex has increased.
The reserves in the week ending January 20, were at $573.73 billion.
According to Reuters, the RBI has intervened to buy dollars as the rupee stabilised. In addition, the valuation also changed, which added to the RBI's forex reserves.
The rupee gained 12 paise to 82.08 against the US dollar in early trade on Friday, supported by easing crude oil prices and a positive trend in domestic equities.
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