Forex reserves rise to $698.27 bn; gold surge lifts overall reserves; RBI data shows steady recovery
India’s foreign exchange reserves witnessed a substantial increase of $4.038 billion, reaching $698.268 billion in the week ending September 5, according to the Reserve Bank of India. This surge was primarily fueled by a significant rise in gold holdings, which jumped by $3.53 billion. Foreign currency assets also contributed, increasing by $540 million.π 1 min read
India’s foreign exchange reserves witnessed a substantial increase of $4.038 billion, reaching $698.268 billion in the week ending September 5, according to the Reserve Bank of India. This surge was primarily fueled by a significant rise in gold holdings, which jumped by $3.53 billion. Foreign currency assets also contributed, increasing by $540 million.
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