Forex reserves rise to $575.29 b

The country’s foreign exchange reserves rose by $2.518 billion to a new record high of $575.29 billion in the week ended November 20. Since March-end, the reserves jumped by $97.48 billion. “Past data indicate it was only in FY08 that RBI had accumulated forex reserves more than this amount. In FY08, forex reserves increased from $200 billion to $309 billion,”according to SBI’s research report ‘Ecowrap’.