 "RBI's foreign exchange reserves rise by $827.4 mn")
The Reserve Bank of India (RBI)'s foreign exchange reserves rose $827.4 million for the week ending October 2 to $350.81 billion, show data released on Friday. Foreign currency assets, a key component of foreign exchange reserves, rose $717.6 million to $327.30 billion.
Meanwhile, the rupee ended at a two-month high due to dollar sale by banks and exporters. It ended at 64.74 compared with its previous close of 65.08 a dollar. The rupee had opened at 64.91 and during intra-day trades it touched a high of 64.7. It had ended at 64.21 a dollar on August 11.
During the week ending October 2, gold reserves stood at $18.15 billion after a rise of $116.5 million. For the week under review, the special drawing rights (SDRs) fell $1.7 million to $4.05 billion, while India's reserve position with the International Monetary Fund stood at $1.31 billion, recording a fall of $5 million.
