Forex reserves up $3.86 bn to $291.59 bn

Aided by strong capital flows and revaluation of global currencies, India’s foreign exchange reserves rose $3.86 billion to $291.59 billion in the week ended September 24. This is the highest weekly rise since July 31, 2009, when the reserves had risen $3.93 billion.

In the previous week, the reserves had risen by $3.23 billion to $287.73 billion, partly reflecting strong capital flows from foreign institutional investors. According to the latest data by the Reserve Bank of India, foreign exchange reserves in rupee terms increased Rs 6,066 crore to Rs 13,31,003 crore. Foreign currency assets rose $3.78 billion, while gold remained unchanged at $20 billion.