India’s Forex Reserves Rise $9.9 Billion To $716.9 Billion
New Delhi: India’s foreign exchange reserves jumped $9.905 billion to $716.90 billion during the week ended August 14, according to data released by the Reserve Bank of India (RBI) on Friday. The latest increase comes a week after the country’s forex reserves had surged by $14.1 billion to $707 billion, marking their highest level in the current financial year. The rise in reserves during the…
New Delhi: India's foreign exchange reserves surged by $9.905 billion to reach $716.90 billion during the week ending August 14, according to the Reserve Bank of India's latest data. This represents the highest level of reserves for the current financial year. The increase in reserves was primarily driven by inflows under the RBI's FCNR(B) deposit scheme, with foreign currency assets (FCAs) surging by $7.2 billion to $581.85 billion during the same period.
Gold reserves also saw a substantial rise of $2.67 billion to $111.41 billion. These strong accumulations in foreign exchange reserves bolster India's external sector buffers, providing greater resilience against global economic and financial uncertainties.
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Also reported by 2 other outlets
- India's forex reserves soar by $9.9 billion to $716.90 billion as on August 14 economictimes.indiatimes.com
- India’s forex reserves rise $9.9 billion to $716.91 billion thehindubusinessline.com
