The RBI's efforts to buy dollar from the market to give stability to the rupee over the last few months have pushed up India's foreign exchange reserves to within a touching distance of its all-time high level of $320.7 billion. FII and FDI in flows also added to India's forex reserves.
As of July 25, India's forex reserves were $320.5 billion, just about $200 million shy of the record level reached in September 2011. Just a year ago, forex reserves had fallen to a low of $275 billion when the rupee had dipped to its all-time lowest closing level of 68.83 to a dollar.
As of July 25, India's forex reserves were $320.5 billion, just about $200 million shy of the record level reached in September 2011. Just a year ago, forex reserves had fallen to a low of $275 billion when the rupee had dipped to its all-time lowest closing level of 68.83 to a dollar.
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