India's forex reserves breach $600 billion-mark, hover around 15-month high
India’s foreign exchange reserves have recorded their most substantial weekly surge in four months, witnessing a remarkable increase of $12.74 billion, reaching an impressive total of $609.02 billion, as reported by the Reserve Bank of India (RBI). This surge comes after a previous uptick of $1.23 billion in the preceding week ending on July 7.
Amount (in $ billion) | Increase (in $ billion) | |
---|---|---|
Forex Reserves | 609.02 | 12.74 |
Foreign Currency Assets (FCAs) | 540.17 | 11.19 |
Gold Reserves | 45.20 | 1.14 |
SDRs | 18.50 | 0.25 |
IMF Reserve Position | 5.18 | 0.16 |
India’s growing forex reserves reflect the nation’s strengthened economic position and the RBI’s vigilant efforts to maintain financial stability. The substantial surge in reserves serves as a positive signal for the country’s economic resilience amidst global uncertainties.
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