India's Forex Reserves Hit All-Time High of $657.16 Billion

Indias foreign exchange (forex) reserves saw a significant increase of $5.158 billion, reaching a new high of $657.155 billion during the week ended July 5, according to the latest data from the Reserve Bank of India (RBI).

The foreign currency assets, a major component of the reserves, rose by $4.228 billion to $577.11 billion.

Gold reserves also saw a substantial rise, increasing by $904 million to $57.432 billion. Additionally, special drawing rights (SDRs) went up by $21 million to $18.036 billion.

Indias reserve position with the International Monetary Fund (IMF) increased by $4 million to $4.578 billion.

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