In­dia’s Forex Kitty Surges to Record $361 b

The Economic Times - - Markets: Beating Volatility -

Mum­bai: In­dia’ for­eign ex­change re­serves con­tin­ued their up­end, ris­ing $1.3 bil­lion to reach a record high of $361.6 bil­lion for the week ended April 22, said the Re­serve Bank of In­dia. A sec­tion of the mar­ket at­trib­uted the rise to the fact that the RBI has con­tin­ued to buy dol­lars on ac­count of the ap­pre­ci­at­ing ru­pee. How­ever, with im­prov­ing macro-eco­nomic sit­u­a­tion and on the hopes of a good mon­soon, for­eign in­vestors have pumped in dol­lars into the sys­tem.

As per NSDL data, for­eign in­sti­tu­tional in­vestors have be­come net buy­ers by in­vest­ing .₹ 14,834 crore in the month of April.— Our Bureau

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