MUMBAI: India’s foreign exchange reserves increased up $98.6 million in the week ended March 10. In the previous week, the reserves had jumped by $1.218 billion.
A break-up of the accretion to the reserves in the reporting week shows that it was up mainly on the back of foreign currency assets rising by $95.7 million.
Since the beginning of the calendar year, the reserves have surged by $10.701 billion. Of this, about half has been on account of foreign portfolio investments into the equity and debt markets.