MUMBAI, March 10 (Reuters) - India's foreign exchange
reserves rose for the first time in five weeks and
stood at $562.40 billion as of the week ended March 3, the
Reserve Bank of India's (RBI) statistical supplement showed on
Friday.
The reserves increased by $1.46 billion at the end of last
week after falling by a total of $15.8 billion in the previous
four weeks, the data showed.
The reserves stood at $560.94 billion in the week to Feb.
24.
The central bank intervenes in the spot and forwards market
to prevent runaway moves in the rupee's exchange rate
against the dollar. The RBI has said in the past that changes in
reserves also stem from valuation gains or losses.
Last week, the rupee gained 0.9% against the dollar, logging
its biggest weekly rise in nearly two months, and strengthened
beyond 82 for the first time in a month.
It traded in a range of 81.92 to 82.95 that week.
For the current week, the rupee ended little changed at
82.04 on Friday.
(Reporting by Anushka Trivedi and Siddhi Nayak; Editing by
Savio D'Souza)
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