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INDIA'S FOREIGN EXCHANGE RESERVES CROSS $700 BILLION
The Business Guardian
|October 06, 2024
India's foreign exchange t reserves scaled a new high a 1 S t r t 1 again, crossing the USD.700 billion milestone.
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In the week that ended on September 27, the forex reserves kitty rose USD 12.588 billion to USD 704.885 billion, as per the data released by the Reserve Bank of India (RBI) on Friday.
Last week, the kitty was at the previous high of USD 692.296 billion.
This buffer of foreign exchange reserves helps insulate domestic economic activity from global shocks.
According to the latest data from the apex bank, India's foreign currency assets (FCA), the largest component of forex reserves, were at USD 616.154 billion.
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