| Date: |
27-08-2016 |
| Subject: |
India's foreign exchange reserves touch $ 367 billion |
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MUMBAI: India's foreign exchange reserves went up $1.3 bn to touch $ 367.2bn as of the week ended August 19 said the Reserve Bank of India in its weekly statistical report.
According to market sources after two weeks of remaining flat the reserves went up supported by strong capital inflow which has given the chance to RBI to mop up more dollars to prepare for the FCNR(B) outflows that are expected to begin next month.
India's forex reserves have been steadily climbing up to a record high, only with occassional hiccups in the event of international issues like Brexit, impending Fed rate hike and even uncertainty in the Chinese economy.
The stability of the Indian markets have also caused net inflows to the tune of Rs 5397 crore in the month of August thereby taking the total inflow into Indian equities and debt markets to Rs 32,452 crore this year shows data released by NSDL.
Source : economictimes.indiatimes.com
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