Indian reserves climb to $360.2bn at end-March

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The Reserve Bank of India's (RBI's) foreign exchange reserves grew to $360.2 billion at the end of March, up 2.8% from the end of September, it announced on July 20.

In its half-yearly report, the RBI noted its reserve had remained "more or less constant" over the six months, but had jumped up in March. Import cover increased from 9.8 months to 10.9 months over the period, it added.

Its foreign currency assets totalled $336.1 at end-March. Just over two-thirds of these are invested in securities

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