MUMBAI, July 12: India’s foreign exchange reserves rose to a record high of $82.774 billion in the week to July 4, helped by inflows from strong foreign portfolio investments in the capital markets, analysts said.

Data released by the Reserve Bank of India in its weekly statistical supplement on Saturday showed the reserves as at July 4 were up $869m, or 1.06 per cent, from $81.905bn a week earlier.

The reserves have been on an uptrend for some months, but had dropped over the previous two weeks as India moved some funds to the IMF, in line with its new status as a creditor to the agency.

“The underlying flows to the country continue — mainly foreign fund investments in both the equity and debt markets,” said Saumitra Chaudhuri, economic adviser to credit rating agency ICRA.—Reuters