MUMBAI: India's foreign exchange reserves rose $1.6 billion to reach $363.1 billion as on February 3 said the Reserve Bank of India in a statement to the media on Friday.
The Rupee having appreciated against the dollar over the past week, has caused the RBI to intervene heavily in the forex market and buy dollars in order to shore up its foreign reserves which had partially depleted heavily towards the end of last year, said market sources.
This rise comes on the back of small pick ups in the foreign exchange reserves over the last few weeks of January and February.
According to data from NSDL, foreign investors pumped in Rs 5827 crore into the Indian equities and debt markets over the two weeks of February.
Source: economictimes.indiatimes.com