New Delhi: India’s foreign exchange reserves surged by $140 million to reach a historic high of $642.631 billion as of March 22, the Reserve Bank of India said. This marks the fifth consecutive week of a notable increase in the country’s overall reserves.
Reserves had seen a significant rise of $6.396 billion, reaching $642.492 billion, the week before as well. Higher FPI flows is one of the key triggers for the higher reserves and is also indicative of growing foreign investor confidence in Indian markets.
