India’s foreign exchange (forex) reserves hit an all-time high of $340 billion, jumping by a record $4.26 billion in the week ended March 20, 2015 on the back of spike in foreign currency assets.
The first time that forex reserves touched an all-time high of $322.14 billion was in the week ending January 16, 2015.
The rupee gained substantially this week after the US central bank decided to delay the hike in its interest rates. RBI grabbed the opportunity to increase the forex reserves as the dollar weakened during the week.