World Economy

India Forex Reserves at $330b

India Forex Reserves at $330bIndia Forex Reserves at $330b

India’s foreign exchange reserves rose $2.7b during the week ended February 6 to touch a new high of $330.2b as the Reserve Bank bought dollars, ETMarkets reported. The Reserve Bank of India has been buying the dollars and preventing an excessive appreciation of the rupee against the dollar and also building up a cushion of reserves to finance the external sector balance sheet.