According to NSDL data, Indian forex reserve reached a record of 355.9 billion USD last week ended 18th March. The previous all time high was 355.4 billion USD in June last year. From the last NSDL data, the reserve made a jump of 2.5 billion USD strong cues in the market.
After making steep plunge for weeks, the financial market was boosted in the last few weeks by improved sentiments. This turned the FIIs into net buyers from net sellers as they invested 15,665 crore INR in equities and 816 crore INR in debt market. If the bullish trend continues, the current forex reserve high could be broken shortly.