| Date: |
17-10-2015 |
| Subject: |
Forex reserves up $2.263 billion to $353.069 billion |
|
KOLKATA: India's foreign exchange reserves rose to $353.069 billion at the end of October 9, close to its all time high of $355.459 billion seen on June 26.
Reserve Bank of India said that forex reserves rose $2.26 billion in the week to October 9 with overseas portfolio investors driving dollar inflows into Indian debt and equity markets.
Forex reserves provides a buffer and smooth out normal import and debt servicing requirements over the year. India's reserves now covers nine months of imports bill.
Foreign currency assets, which contributes close to 90% of the reserves, rose $2.2 billion to $329.518 billion.
Source : economictimes.indiatimes.com
|