Forex kitty continues to swell, touches a new high of $448 bn

Mumbai: Foreign exchange reserves continued their upward march surging $1.710 billion to touch a new high of $447.81 billion in the week to November 8, according to weekly data released by the RBI. In the previous week, the reserves surged by $3.515 billion to reach $446.098 billion. The increase was mainly on account of a rise in foreign currency assets, a major component of the overall reserves and jumped by $2.174 billion to $415.828 billion in the reporting week, as per the data released on Friday.