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…
India's foreign-exchange reserves reached a record $785.7 billion in the week ending September 4, marking a surge of $44.9 billion compared to the previous week, according to the Reserve Bank of India's latest statistical bulletin. This significant increase makes India the fourth largest holder of foreign exchange reserves globally, trailing behind China, Japan, and Switzerland. The jump in the forex reserves was primarily driven by a dedicated dollar-mobilisation programme, which exceeded market expectations.
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- India's forex reserves surge $44.9 billion to record $785.7 billion, fourth largest globally economictimes.indiatimes.com
