India's Foreign Exchange Reserves have surged to six month high of 291.30 billion dollars as on the week ended 29th of November. The increase is on account of strong dollar inflows because of concessional swap facilities by the Reserve Bank of India.

The RBI has offered discounted swap rates to banks for raising foreign currency deposits and overseas capital. The surge in FOREX is over five billion dollars in a single week. FOREX reserves have been depleting since May
last when the rupee started sliding down due to global liquidity conditions.