Forex reserves remained close to an all-time high, at nearly $400bn, which is not a large change from record high of $402.5bn registered the week ended 15 September 2017. Reserves touched an all-time high entirely on the back of a rise in foreign currency assets. RBI has been stepping up its purchase of foreign exchange to counter appreciate in the Indian Rupee.

Insight- India is now the third largest holder of FX reserves in the emerging market pack. It is behind China ($3 trillion) and Russia ($423 Billion) among its peers.