India’s foreign exchange reserves hit an all-time high of $355.95 billion in the week that ended on March 18, the Reserve Bank of India said on Friday. According to the RBI’s weekly statistical report, the reserves increased by $2.5 billion and the previous high was $355.4 billion on June 27 last year.
Data from the central securities depository National Securities Deposit Limited showed that foreign institutional investors who used to be net sellers have of late become net buyers, boosting the country’s foreign exchange reserves. Essentially, this indicates that foreign investors have started investing in Indian markets again. The Economic Times reported that industry experts believe this is the result of improving macroeconomic conditions in the country.