Rupee remained volatile this week taking cues from strength in the dollar index & more than expected positive economic data from USA. Higher treasury yield in the US moreover led to weakness in rupee which touched its one month low against the dollar this week yet recovered a little after possible intervention by the RBI.
Domestically, weak Indian market sentiments & poor manufacturing & services PMI data which stood at 50.7 & 48.5 respectively.
FIIs invested a total of Rs. 132.56 crores in the cash & derivatives market of India on Friday.
After declining for two weeks, India’s foreign exchange reserves rose by $204.9 million to $ 295.71 billion in the week ended December 27 on the back of an increase in the core currency component.
The reserves had declined by $12.6 million in the previous reporting week to $295.50 billion.
Foreign currency assets (FCAs), which form a major part of the overall reserves, shot up by $164.3 million to $268.634 billion in the week under review, the Reserve Bank said. Read More Info Visit Here