India's forex reserves continues to rise

MUMBAI: India's foreign exchange reserves continued their trend, rising $1.3bn to reach a record high of $361.6bn, for the week that ended April 22 said the Reserve Bank of India.

A section of the market attributed the rise to the fact that the RBI has continued to buy dollars on account of Rupee being on an appreciating mode.

However, with improving macro-economic situation of the country and on hopes of a good monsoon, foreign investors have pumped in dollars into the system.

As per NSDL data, foreign institutional investors have become net buyers by investing Rs 14,834 crore in the month of April.