 "FX reserves reclaim $700 billion mark, just short of all-time high")
India’s foreign exchange reserves rose by $4.8 billion to $702.7 billion during the week ended June 27.
This is the highest since September 27, 2024, when the reserves had touched an all-time high of $705 billion, latest data released by the Reserve Bank of India (RBI) showed.
The total reserves were up on the back of a rise in foreign currency assets, which rose by $5.7 billion during the reported week.
This increase in foreign currency assets was driven by active intervention by the RBI via dollar purchase, said experts.
The central bank net purchases were $5.9 billion during the week.
