Forex kitty rises $2.8bn to another high, nears $700bn

MUMBAI: India’s foreign exchange reserves continued to rise for a sixth straight week to a record high of $692.3 billion as of Sept 20, RBI data showed on Friday. The reserves rose by $2.8 billion in the reporting week, after having risen by a total of $19.3 billion in the prior five weeks. After jumping to a more-than-two-month-high of 83.49 last week, the rupee settled at 83.7 against the dollar on Friday – slipping 0.1% week-on-week.