India has the highest foreign exchange reserves ever
September 28, 20241 Min Read
International Desk: India's foreign exchange reserves have again set a record. The country's reserves rose by $2.8 billion to $692.3 billion in the week ended September 20, an all-time high. The Reserve Bank of India informed this information on Friday (September 27).

Dollar

India's foreign exchange reserves hit a record for the second week. Earlier, the country's reserves rose by $223 million to $689.46 billion in the week ended September 13.

According to the bank's weekly figures, foreign currency assets increased by $2 billion to $605 billion.

Moreover, gold reserves increased by 726 million tons to 63.6 billion tons. During the same period SDR increased by $121 million to $18.53 billion.

Basically the Reserve Bank of India intervenes in the market in cash management. In particular, they sell dollars to prevent the fall of the rupee.

Source: The Economic Times