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Friday, July 28, 2017

Forex chest swells to life high of $391.3 billion

By Pratik Bhakta ET Bureau
FCAs, a key component of overall reserves, surged by USD 2.24 billion to USD 367.15 billion, according to RBI data.

MUMBAI: India’s foreign exchange reserves rose $2.2 billion to reach a record high of $391.3 billion for the week ended July 21, said the Reserve Bank of India on Friday. 

Taking advantage of a stock market rally coupled with a strong Rupee, market sources ET spoke to said that the central bank could be mopping up dollar reserves. 

Data from NSDL shows Rs 22,997 crore was pumped into Indian markets by foreign institutional investors in the current month. Rs 1.7 lakh crore .. 


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