India's foreign exchange reserves jump $1.2 bn

Posted by Daily Shipping Times on 15-03-2017        Tweet

MUMBAI: India's foreign exchange reserves rose $1.2 bn to reach $364 bn as on February 17 said the Reserve Bank of India. Buoyed by a strong domestic market and a stable Rupee the Central Bank has been buying foreign currency in order to strengthen its foreign exchange reserves, said market insiders.

India has also been receiving a strong intake of investments from foreign investors throughout the new year. According to data from NSDL, Rs 22654 crore has been pumped into the Indian markets by foreign investors.