India's foreign exchange is up from $2.6b to $366.7b

India has shown a great hike in foreign exchange value. The value, which was at $2.6 billion previously, has now reached to the $366.7 billion. The data is revealed by the Reserve Bank of India (RBI) on Friday.

Resources say that RBI is defending the value of Indian currency, with the comparison to Dollar, which values Rs 65.60. Sources say that this data will raise more in the coming days, as India will have much market investments this time.

Executive Director of Federal Bank Ashutosh Khajuria said, "The rise can be attributed to the likely maturities in the forwards market and also some spot buying from the regulator as the Rupee had appreciated consistently over the last week."

 

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