India’s foreign exchange reserves gained $4 billion to reach $379.3 billion for the week ended May 19 said the Reserve Bank of India on Friday, reaching another record high.
The previous recorded high was $375.7 billion as reported on the end of the first week of May.
At a time when the Indian equities market has been on a steady upward trajectory supported by strong inflow of foreign funds and positive global cues the Reserve Bank of India has been mopping up foreign currency.