Indian Economy News

RBI's forex reserves at all-time high of $352 bn

Mumbai: Foreign exchange reserves hit an all-time high of $352.13 billion for the week ending May 8, recording a week-on-week growth of $262.4 million, Reserve bank of India data showed. Foreign currency assets, a key component, rose $262.7 million to $327.42 billion.

Meanwhile, the rupee on Friday rose by another 14 paise against the dollar to close at 63.52 on sustained selling of dollars by banks and exporters amid gains in equities. At the Interbank Foreign Exchange, the domestic unit resumed strong at 63.50 from its previous close of 63.66 and later moved in a range of 63.46 and 63.60.

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