Forex reserves slip by $361 mn to $362.7 bn

Posted by Daily Shipping Times on 20-02-2017        Tweet

MUMBAI: India's foreign exchange reserves went down marginally $361mn to stand on $362.7bn as on February 10 said the Reserve Bank of India recently.

The foreign exchange reserves have been in a very healthy position over the last few weeks with the RBI having also boosted it by $1.6bn in the first week of February, supported by a strong Rupee.

Market sources said that inflow of foreign funds have boosted Indian market and allowed the Rupee to be stable and the RBI has been intervening by buying foreign currency.

According to data released by NSDL, foreign investors have pumped in Rs 9561 crore into both Indian equities and debt market over the first three weeks of February.