Data released by the Reserve Bank of India indicates that the nation's foreign exchange reserves have climbed to an unprecedented peak of 785.7 billion dollars. This represents a weekly growth of approximately 45 billion dollars, marking the tenth straight week of expansion. Over the last two and a half months, total reserves have grown by nearly 120 billion dollars, supported by government initiatives launched in June to encourage dollar inflows. These programs, which include significant deposits from non-resident Indians, successfully attracted over 136 billion dollars by the end of August. The recent surge was primarily fueled by a substantial increase in foreign currency assets, which reached 648.2 billion dollars. Conversely, the valuation of the country's gold holdings experienced a decline of roughly 2.6 billion dollars, settling at 113.8 billion dollars.
Source : Newswire
Photo : Newswire
