India's forex reserves surge $44.9 billion to record $785.7 billion, fourth largest globally
India's foreign-exchange reserves surged to a record $785.706 billion. This surge was driven by a dedicated dollar-mobilisation programme and strong inflows. Foreign currency assets increased significantly, while gold reserves saw a contraction. The central bank's intervention supported the local currency and curbed volatility. These substantial inflows have stabilized the foreign exchange market…
We haven't written up this one. The Economic Times - Economy has the full story — the link below goes straight to it.
