India’s FX reserves hit a record high of USD 642.49 bln for the week ending March 15, marking the fourth consecutive week of increases. The reserves rose by nearly USD 6.4 bln during this period, with foreign currency assets at USD 568.386 bln and gold reserves at USD 51.14 bln. Meanwhile, the Indian rupee depreciated to a low of 83.43 against the USD, influenced by weakness IN ASIAn currencies and domestic demand for the USD.