Quantum jump: India’s forex reserves up $259 million to $402 billion

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New Delhi | Updated: March 16, 2019 7:08:34 AM

India’s foreign exchange reserves increased by $258.8 million to $402.035 billion as on March 8, data from the RBI show.

forex, forex exchange, forex marketThe increase in foreign reserves could partly be attributed to the rising investments by foreign investors in Indian capital markets.

India’s foreign exchange reserves increased by $258.8 million to $402.035 billion as on March 8, data from the RBI show. In the previous week, the reserves had increased by $2.59 billion to $401.776 billion. Foreign currency assets (FCA), which form a key component of reserves, rose by $167.1.2 million to $374.227 billion. FCAs are maintained in major currencies like US dollar, euro, and pound sterling. The increase in foreign reserves could partly be attributed to the rising investments by foreign investors in Indian capital markets.

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