Forex reserves cross $300 bn

India’s foreign exchange reserves rose $2.25 billion in the week ended November 5 to $300.21 billion on foreign portfolio inflows and changes in the value of global currencies. Foreign currency assets rose $2.19 billion to $271.28 billion. The special drawing rights were up $43 million to $5.22 billion, according to the Reserve Bank of India data.

The last time reserves were above $300 billion was in August 2008. They had crossed $300 billion for the first time at the end of February 2008. The peak of $316.17 billion was reported in May 2008, according to Bloomberg data.