Forex chest swells to life high of USD 391.33 billion

MUMBAI: India’s foreign exchange reserves rose $2.2 billion to reach a record high of $391.3 billion for the week ended June 30, said the Reserve Bank of India on Friday.

Taking advantage of a stock market rally coupled with a strong Rupee, market sources ET spoke to said that the central bank could be mopping up dollar reserves.

Data from NSDL shows Rs 22,997 crore was pumped into Indian markets by foreign institutional investors in the current month. Rs 1.7 lakh crore has been pumped in by foreign investors into Indian markets over the year.

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