October 4, 2024 9:40 PM

India’s foreign exchange reserves cross USD 700 billion first time

India's foreign exchange reserves have reached an unprecedented milestone, crossing the USD 700 billion mark for the first time. According to data released by the Reserve Bank of India (RBI) on Friday, the reserves surged by USD 12.588 billion in the week ending on September 27, pushing the total to USD 704.885 billion. The previous high stood at USD 692.296 billion just a week earlier, marking a significant boost in India's economic buffer. This substantial foreign exchange reserve is a crucia...