India's foreign exchange reserves rose sharply by $12.42 billion in the week ended August 21, taking the total reserves to $729.33 billion, according to the latest data released by the Reserve Bank of India (RBI).&nbsp;The rise was mainly driven by an increase in foreign currency assets, while gold reserves also posted a strong weekly gain.&nbsp;The $12.42 billion weekly increase came primarily from sustained foreign currency inflows. These followed the RBI's measures in June to attract overseas deposits and foreign currency borrowings. The central bank accumulated part of these inflows in its reserves.&nbsp;In rupee terms, India's total foreign exchange reserves stood at Rs 69.81 lakh crore as of August 21.&nbsp;The reserves have increased by $38.22 billion from the end of March 2026 and by $38.61 billion over the past year. This shows a sustained improvement in India's external reserve position.&nbsp;Foreign currency assets (FCAs), the largest component of India's foreign exchange reserves, increased by $9.48 billion during the week to $591.33 billion.&nbsp;On a year-on-year basis, FCAs were higher by $9.08 billion. In rupee terms, FCAs rose by Rs 1.08 lakh crore during the week to Rs 56.60 lakh crore.&nbsp;Gold reserves also contributed significantly to the weekly increase. The value of gold held as part of India's reserves rose by $2.80 billion to $114.22 billion during the week.&nbsp;Also Read: <a href="https://www.wionews.com/race-to-power/us-midterms-companies-close-to-trump-prepare-for-possible-democratic-takeover-of-house-race-to-power-1787931360846">US midterms: Companies close to Trump prepare for possible Democratic takeover of House | Race to Power</a><h3>Reserves cross previous record</h3>India's previous record forex reserve level of $728.494 billion was reached in the week ended February 27. Geopolitical tensions that followed led to several weeks of decline in reserves as the rupee came under pressure and the RBI intervened in the forex market through dollar sales.&nbsp;The latest increase has pushed India's reserve buffer further above the end-March level, with gains recorded across foreign currency assets, gold, Special Drawing Rights (SDRs) and the IMF reserve position.&nbsp;RBI data also showed that foreign currency assets rose by Rs 1.08 lakh crore, while gold holdings increased by Rs 30,022 crore during the week ended August 21.

India's foreign exchange reserves surged by $12.42 billion to a record $729.33 billion in the week ended August 21, driven mainly by higher foreign currency assets and gold reserves.

India's foreign exchange reserves rose sharply by $12.42 billion in the week ended August 21, taking the total reserves to $729.33 billion, according to the latest data released by the Reserve Bank of India (RBI). The rise was mainly driven by an increase in foreign currency assets, while gold reserves also posted a strong weekly gain. The $12.42 billion weekly increase came primarily from sustained foreign currency inflows. These followed the RBI's measures in June to attract overseas deposits and foreign currency borrowings. The central bank accumulated part of these inflows in its reserves. In rupee terms, India's total foreign exchange reserves stood at Rs 69.81 lakh crore as of August 21. The reserves have increased by $38.22 billion from the end of March 2026 and by $38.61 billion over the past year. This shows a sustained improvement in India's external reserve position. Foreign currency assets (FCAs), the largest component of India's foreign exchange reserves, increased by $9.48 billion during the week to $591.33 billion. On a year-on-year basis, FCAs were higher by $9.08 billion. In rupee terms, FCAs rose by Rs 1.08 lakh crore during the week to Rs 56.60 lakh crore. Gold reserves also contributed significantly to the weekly increase. The value of gold held as part of India's reserves rose by $2.80 billion to $114.22 billion during the week. Also Read: US midterms: Companies close to Trump prepare for possible Democratic takeover of House | Race to Power Reserves cross previous record India's previous record forex reserve level of $728.494 billion was reached in the week ended February 27. Geopolitical tensions that followed led to several weeks of decline in reserves as the rupee came under pressure and the RBI intervened in the forex market through dollar sales. The latest increase has pushed India's reserve buffer further above the end-March level, with gains recorded across foreign currency assets, gold, Special Drawing Rights (SDRs) and the IMF reserve position. RBI data also showed that foreign currency assets rose by Rs 1.08 lakh crore, while gold holdings increased by Rs 30,022 crore during the week ended August 21.

India's foreign exchange reserves surged by $12.42 billion to a record $729.33 billion in the week ended August 21, driven mainly by higher foreign currency assets and gold reserves.

India’s forex reserves touch record high of $729.33 billion, rise $12.42 billion

India's foreign exchange reserves rose by USD 4.747 billion in the week that ended August 8 to USD 693.618 billion, driven by gains in both foreign currency assets and gold holdings, the Reserve Bank of India (RBI) said in its latest 'Weekly Statistical Supplement'. In the preceding week, India's foreign exchange reserves reported a sharp decline, slipping USD 9.32 billion. Still, the forex kitty is hovering close to its all-time high of USD 704.89 billion touched in September 2024. After the latest monetary policy review meeting, RBI Governor Sanjay Malhotra said the foreign exchange kitty was sufficient to meet 11 months of the country's imports. The latest RBI data showed that India's foreign currency assets (FCA), the largest component of foreign exchange reserves, stood at USD 583.979 billion. According to RBI data, the gold reserves currently amount to USD 86.160 billion. In 2023, India added around USD 58 billion to its foreign exchange reserves, contrasting with a cumulative decline of USD 71 billion in 2022. In 2024, the reserves rose by a little over USD 20 billion. So far in 2025, the forex kitty has cumulatively jumped by about USD 53 billion, data showed. Foreign exchange reserves, or FX reserves, are assets held by a nation's central bank or monetary authority, primarily in reserve currencies such as the US Dollar, with smaller portions in the Euro, Japanese Yen, and Pound Sterling. The RBI often intervenes by managing liquidity, including selling dollars, to prevent steep Rupee depreciation. The RBI strategically buys dollars when the Rupee is strong and sells when it weakens.&nbsp;Disclaimer: This story has been published from a news agency feed with minimal edits for grammar and punctuation. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

In 2024, the reserves rose by a little over USD 20 billion. So far in 2025, the forex kitty has cumulatively jumped by about USD 53 billion, data showed.

India's foreign exchange reserves rose by USD 4.747 billion in the week that ended August 8 to USD 693.618 billion, driven by gains in both foreign currency assets and gold holdings, the Reserve Bank of India (RBI) said in its latest 'Weekly Statistical Supplement'. In the preceding week, India's foreign exchange reserves reported a sharp decline, slipping USD 9.32 billion. Still, the forex kitty is hovering close to its all-time high of USD 704.89 billion touched in September 2024. After the latest monetary policy review meeting, RBI Governor Sanjay Malhotra said the foreign exchange kitty was sufficient to meet 11 months of the country's imports. The latest RBI data showed that India's foreign currency assets (FCA), the largest component of foreign exchange reserves, stood at USD 583.979 billion. According to RBI data, the gold reserves currently amount to USD 86.160 billion. In 2023, India added around USD 58 billion to its foreign exchange reserves, contrasting with a cumulative decline of USD 71 billion in 2022. In 2024, the reserves rose by a little over USD 20 billion. So far in 2025, the forex kitty has cumulatively jumped by about USD 53 billion, data showed. Foreign exchange reserves, or FX reserves, are assets held by a nation's central bank or monetary authority, primarily in reserve currencies such as the US Dollar, with smaller portions in the Euro, Japanese Yen, and Pound Sterling. The RBI often intervenes by managing liquidity, including selling dollars, to prevent steep Rupee depreciation. The RBI strategically buys dollars when the Rupee is strong and sells when it weakens. Disclaimer: This story has been published from a news agency feed with minimal edits for grammar and punctuation. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

In 2024, the reserves rose by a little over USD 20 billion. So far in 2025, the forex kitty has cumulatively jumped by about USD 53 billion, data showed.

India's forex reserves rise to $693.6 billion, inch towards all-time high

India A will take on <a href="https://www.wionews.com/tags/england-lions">England Lions </a>in the second unofficial Test from Friday (June 6) at The County Ground in Northampton. The four-day Test match is part of the warm-up series ahead of India’s much-awaited Test tour of England.&nbsp;After the first warmup Test match ended in a draw at Canterbury, India A will look to make stronger moves in this second game. A major boost for the team is the return of senior batter <a href="https://www.wionews.com/tags/kl-rahul">KL Rahul</a>, who joins the squad after completing his IPL duties. However, some notable players, such as skipper Shubman Gill and Rishabh Pant, will miss this match.&nbsp;The Indian side will be led by opening batter Abhimanyu Easwaran, who along with other top performers like Karun Nair, Yashasvi Jaiswal, Sarfaraz Khan, and Dhruv Jurel, had a solid outing in the first game. Karun Nair, in particular, stood out with a brilliant double century, his 10th First-Class hundred this year.&nbsp;Also Read |<a href="https://www.wionews.com/sports/cricket-wtc-final-fit-again-scott-boland-hunts-for-place-in-playing-xi-ahead-of-josh-hazlewood-says-want-to-make-1749179729020"> WTC Final: Fit-again Scott Boland hunts for place in Playing XI ahead of Josh Hazlewood, says 'want to make...'</a>&nbsp;The match is expected to help the Indian players adjust better to English conditions before the senior team begins its red-ball challenge. This series presents young players with a golden opportunity to make a mark ahead of upcoming selection decisions.&nbsp;<h2>What time will the India A vs England Lions 1st unofficial Test start?</h2>&nbsp;The India A vs England Lions 2nd unofficial Test will begin at 11:00 AM local time (3:30 PM IST) on Friday (June 6).&nbsp;<h2>When and where to watch the India A vs England Lions 1st unofficial Test?</h2>The India A vs England Lions 2nd unofficial Test will be streamed on the ECB website and app and JioHotstar. The match will not be telecast in India.&nbsp;Squads for both teams&nbsp;India A: Yashasvi Jaiswal, Abhimanyu Easwaran (c), Karun Nair, Sarfaraz Khan, Dhruv Jurel (wk), Nitish Reddy, Shardul Thakur, Harsh Dubey, Anshul Kamboj, Harshit Rana, Mukesh Kumar, KL Rahul, Ishan Kishan, Khaleel Ahmed, Tushar Deshpande, Akash Deep, Manav Suthar, Tanush Kotian, Ruturaj Gaikwad.&nbsp;England Lions: Tom Haines, Ben McKinney, Emilio Gay, Max Holden, James Rew (c and wk), Jordan Cox, Chris Woakes, Josh Tongue, Ajeet Dale, Farhan Ahmed, Rocky Flintoff, Edward Jack, George Hill.

After the first warmup Test match ended in a draw at Canterbury, India A will look to make stronger moves in this second game. A major boost for the team is the return of senior batter KL Rahul.

India A will take on England Lions in the second unofficial Test from Friday (June 6) at The County Ground in Northampton. The four-day Test match is part of the warm-up series ahead of India’s much-awaited Test tour of England. After the first warmup Test match ended in a draw at Canterbury, India A will look to make stronger moves in this second game. A major boost for the team is the return of senior batter KL Rahul, who joins the squad after completing his IPL duties. However, some notable players, such as skipper Shubman Gill and Rishabh Pant, will miss this match. The Indian side will be led by opening batter Abhimanyu Easwaran, who along with other top performers like Karun Nair, Yashasvi Jaiswal, Sarfaraz Khan, and Dhruv Jurel, had a solid outing in the first game. Karun Nair, in particular, stood out with a brilliant double century, his 10th First-Class hundred this year. Also Read | WTC Final: Fit-again Scott Boland hunts for place in Playing XI ahead of Josh Hazlewood, says 'want to make...' The match is expected to help the Indian players adjust better to English conditions before the senior team begins its red-ball challenge. This series presents young players with a golden opportunity to make a mark ahead of upcoming selection decisions. What time will the India A vs England Lions 1st unofficial Test start? The India A vs England Lions 2nd unofficial Test will begin at 11:00 AM local time (3:30 PM IST) on Friday (June 6). When and where to watch the India A vs England Lions 1st unofficial Test? The India A vs England Lions 2nd unofficial Test will be streamed on the ECB website and app and JioHotstar. The match will not be telecast in India. Squads for both teams India A: Yashasvi Jaiswal, Abhimanyu Easwaran (c), Karun Nair, Sarfaraz Khan, Dhruv Jurel (wk), Nitish Reddy, Shardul Thakur, Harsh Dubey, Anshul Kamboj, Harshit Rana, Mukesh Kumar, KL Rahul, Ishan Kishan, Khaleel Ahmed, Tushar Deshpande, Akash Deep, Manav Suthar, Tanush Kotian, Ruturaj Gaikwad. England Lions: Tom Haines, Ben McKinney, Emilio Gay, Max Holden, James Rew (c and wk), Jordan Cox, Chris Woakes, Josh Tongue, Ajeet Dale, Farhan Ahmed, Rocky Flintoff, Edward Jack, George Hill.

After the first warmup Test match ended in a draw at Canterbury, India A will look to make stronger moves in this second game of their tour. A major boost for the team is the return of senior batter KL Rahul and other senior guns in the squad.&nbsp;

India A vs England Lions 2nd unofficial Test live streaming | When and where to watch, live on smart TV, mobile app and match details. Check inside

India's foreign exchange reserves fell in the latest week as the Reserve Bank of India intervened in the currency market to limit the rupee's fall against a strengthening dollar.

This comes after the country's import cover hit record highs for two weeks before the latest week.

<a href="https://m.rbi.org.in/Scripts/WSSViewDetail.aspx?TYPE=Section&amp;PARAM1=2">The RBI's weekly statistical supplement data</a> showed that the forex reserves fell to around <a href="https://rbidocs.rbi.org.in/rdocs/Wss/PDFs/2T_21062024B70233796770444AABEC806983B80B3B.PDF">$653 billion</a> in the week ending June 14, down from a record high of nearly <a href="https://rbidocs.rbi.org.in/rdocs/Wss/PDFs/2T_1406202483650C57AB514A3EB6695F1B61FFEC9B.PDF">$656 billion</a> the previous week.

Foreign exchange reserves help a country pay for imports, and the war chest is used for external debt payments.

Usually, currency moves weigh heavily on the import cover, and the story is no different in the latest week.

Dollar strength weighing on rupee

The dollar has strengthened on bets the US Federal Reserve will take longer to pivot to policy easing even as other major central banks have brought their knives out already.

According to the latest Federal Open Market Committee's (FOMC) dot plot projections, the central bank will cut rates just once by the end of this year, compared to three pencilled in by US policymakers themselves as recently as March.

While the RBI is also not likely to cut rates anytime soon, and the last leg of the inflation fight is likely to take longer than previously thought, the Fed's outlook drives global currencies.

With the monetary policy divergence out of the scenario, the rupee's moves are not driven solely by the other side of the exchange story.

Foreign inflows remain a question mark

While Indian stocks have risen to repeat record highs this month, foreign inflows have been subdued, and demand for dollars by importers and large institutions has jumped.

Broadly, foreign investors have stayed on the sidelines even as the inflows into Indian bonds have jumped in recent weeks.

Traders say the <a href="https://www.wionews.com/business-economy/rbi-intervention-helps-the-indian-rupee-avoid-record-low-731011">RBI has intervened in the forex market</a> to prevent extreme moves in the rupee and limit its fall.

"The Indian rupee started experiencing pressure due to the recent election results, which led to a coalition government, dampening investor sentiments," said Amit Pabari, Managing Director and founder of CR Forex.

"Moreover, the Indian rupee has been under pressure due to increased demand from oil importers, a factor that has been further exacerbated by the hawkish Fed policy and stronger-than-expected economic data from the US, keeping the Indian rupee on the weaker side last week," added Pabari.

Still, India's import war chest has swelled this year and is near record highs, giving the central bank more buffer to keep the rupee in a range, albeit near record lows.

This week, the Indian currency hit its weakest level against the dollar, with dollar demand jumping and a rise in global oil prices weighing on the rupee.

India vs its neighbours' FX reserves

Despite the nearly $3 billion fall in India's FX reserves in the latest week, the country is better off than its neighbours, who have, at best, a few months of import cover as foreign currency reserves.

The weekly changes in reserves matter little to financial markets unless there is a significant change.

With <a href="https://www.wionews.com/business-economy/indias-economy-gains-momentum-business-activity-jumps-job-creation-at-18-year-high-733945">India's economic growth</a> on a solid path and one of the fastest rates in the world, investors will likely see this as a blip rather than a trend.

The outlook for the country's reserves remains broadly robust even as the rupee hit its weakest rate against the dollar this week.

"The major trigger for the rupee's fall towards its all-time low was a major outflow of $1.7 billion from Vodafone's Indus Tower stake sale, which exerted considerable pressure on the currency, especially in the absence of bids for the dollar," said Pabari.

"Additionally, dollar demand from oil-importing companies has recently surged, resulting in a rise in oil prices, which have risen by nearly 10.5% in the past two weeks. The rupee faced some strain, which combined to make it mark its all-time low," added CR Forex's Managing Director.

Traders expect the RBI to dip into the forex reserves to stem the fall in the rupee.

However, they do not predict any significant erosion of the country's import war chest.

Outlook for the rupee ahead of the budget

The rupee is broadly expected to remain in a tight range, albeit near record low levels as investors eye several announcements from the coalition government's new budget.

Pabari from CR Forex said, "Factors including economic conditions, investor sentiment, and global market trends can influence the rupee's outlook ahead of the budget announcement."

"It's important to note that the performance of the rupee post-budget under coalition governments has been far from predictable. The need to appease multiple political partners often results in cautious budgets, which can hinder the implementation of bold reforms. In such scenarios, markets tend to respond more favourably to budgets that demonstrate fiscal prudence and clear reform measures," he added.

India's foreign exchange reserves fell in the latest week as the Reserve Bank of India intervened in the currency market to limit the rupee's fall against a strengthening dollar.

India's foreign exchange reserves fell in the latest week as the Reserve Bank of India intervened in the currency market to limit the rupee's fall against a strengthening dollar. This comes after the country's import cover hit record highs for two weeks before the latest week. The RBI's weekly statistical supplement data showed that the forex reserves fell to around $653 billion in the week ending June 14, down from a record high of nearly $656 billion the previous week. Foreign exchange reserves help a country pay for imports, and the war chest is used for external debt payments. Usually, currency moves weigh heavily on the import cover, and the story is no different in the latest week. Dollar strength weighing on rupee The dollar has strengthened on bets the US Federal Reserve will take longer to pivot to policy easing even as other major central banks have brought their knives out already. According to the latest Federal Open Market Committee's (FOMC) dot plot projections, the central bank will cut rates just once by the end of this year, compared to three pencilled in by US policymakers themselves as recently as March. While the RBI is also not likely to cut rates anytime soon, and the last leg of the inflation fight is likely to take longer than previously thought, the Fed's outlook drives global currencies. With the monetary policy divergence out of the scenario, the rupee's moves are not driven solely by the other side of the exchange story. Foreign inflows remain a question mark While Indian stocks have risen to repeat record highs this month, foreign inflows have been subdued, and demand for dollars by importers and large institutions has jumped. Broadly, foreign investors have stayed on the sidelines even as the inflows into Indian bonds have jumped in recent weeks. Traders say the RBI has intervened in the forex market to prevent extreme moves in the rupee and limit its fall. "The Indian rupee started experiencing pressure due to the recent election results, which led to a coalition government, dampening investor sentiments," said Amit Pabari, Managing Director and founder of CR Forex. "Moreover, the Indian rupee has been under pressure due to increased demand from oil importers, a factor that has been further exacerbated by the hawkish Fed policy and stronger-than-expected economic data from the US, keeping the Indian rupee on the weaker side last week," added Pabari. Still, India's import war chest has swelled this year and is near record highs, giving the central bank more buffer to keep the rupee in a range, albeit near record lows. This week, the Indian currency hit its weakest level against the dollar, with dollar demand jumping and a rise in global oil prices weighing on the rupee. India vs its neighbours' FX reserves Despite the nearly $3 billion fall in India's FX reserves in the latest week, the country is better off than its neighbours, who have, at best, a few months of import cover as foreign currency reserves. The weekly changes in reserves matter little to financial markets unless there is a significant change. With India's economic growth on a solid path and one of the fastest rates in the world, investors will likely see this as a blip rather than a trend. The outlook for the country's reserves remains broadly robust even as the rupee hit its weakest rate against the dollar this week. "The major trigger for the rupee's fall towards its all-time low was a major outflow of $1.7 billion from Vodafone's Indus Tower stake sale, which exerted considerable pressure on the currency, especially in the absence of bids for the dollar," said Pabari. "Additionally, dollar demand from oil-importing companies has recently surged, resulting in a rise in oil prices, which have risen by nearly 10.5% in the past two weeks. The rupee faced some strain, which combined to make it mark its all-time low," added CR Forex's Managing Director. Traders expect the RBI to dip into the forex reserves to stem the fall in the rupee. However, they do not predict any significant erosion of the country's import war chest. Outlook for the rupee ahead of the budget The rupee is broadly expected to remain in a tight range, albeit near record low levels as investors eye several announcements from the coalition government's new budget. Pabari from CR Forex said, "Factors including economic conditions, investor sentiment, and global market trends can influence the rupee's outlook ahead of the budget announcement." "It's important to note that the performance of the rupee post-budget under coalition governments has been far from predictable. The need to appease multiple political partners often results in cautious budgets, which can hinder the implementation of bold reforms. In such scenarios, markets tend to respond more favourably to budgets that demonstrate fiscal prudence and clear reform measures," he added.

India's forex reserves fall from record highs

India's foreign exchange reserves have reached a significant milestone, surging past the $600 billion mark for the first time since May 2022. As of July 14, the forex reserves stood at an impressive $609 billion, marking a 15-month high. This remarkable achievement comes against the backdrop of a notable rise in dollar inflows into the country's economy.

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The reserves witnessed an impressive increase of $12.74 billion from the preceding week, marking the largest weekly gain in four months. This surge can be attributed to two primary factors. Firstly, there was an increase in the U.S. government bonds held by the Reserve Bank of India (RBI), contributing to the rise in reserves. The appreciation of non-dollar currencies played a significant role in bolstering the overall value of India's foreign exchange holdings.

The Reserve Bank of India (RBI) has strategically allocated over two-thirds of its foreign currency assets in U.S. dollars, while the remaining portion is diversified across other major currencies, including the euro, yen, pound, and Chinese renminbi.

Gaura Sen Gupta, an India economist at IDFC Bank, was quoted by Reuters as stating that a significant portion of the week-on-week increase in forex reserves was&nbsp;driven by revaluation gains due to dollar weakness and lower US Treasury yields.

India's foreign exchange reserves have witnessed a remarkable upswing, enabling the country to reinforce its economic stability and resilience. The reserves have now reached a level where they can easily cover 11 months of imports, a significant increase from 9.3 months in December 2022 and just 8.9 months in September 2022. This strengthened position is a testament to India's growing financial strength and its capacity to navigate through global economic fluctuations.

Furthermore, in the past three months, foreign investors have displayed strong interest in Indian shares, acquiring a net of $16 billion, as reported by the National Securities Depository Limited. This surge in foreign investment has provided the central bank with an opportunity to bolster its reserves by making strategic purchases from the market.

India's forex reserves achieved a significant milestone when they first surpassed the $600 billion mark in June 2021, a remarkable feat facilitated by a surge in foreign direct investments flowing into the country.

However, the forex market experienced heightened volatility in the wake of the Ukraine invasion, necessitating the central bank to intervene and stabilise the market by selling dollars. Despite these efforts, the reserves faced challenges due to sharp interest rate hikes in the United States, which impacted the forex market and resulted in a notable reduction in reserves during that period. Despite the temporary setback, India's proactive measures and strong foreign investment inflows continue to navigate through currency fluctuations and economic uncertainty.

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India's foreign exchange reserves have reached a significant milestone, surging past the $600 billion mark for the first time since May 2022. As of July 14, the forex reserves stood at an impressive $609 billion, marking a 15-month high.

India's foreign exchange reserves have reached a significant milestone, surging past the $600 billion mark for the first time since May 2022. As of July 14, the forex reserves stood at an impressive $609 billion, marking a 15-month high. This remarkable achievement comes against the backdrop of a notable rise in dollar inflows into the country's economy. The reserves witnessed an impressive increase of $12.74 billion from the preceding week, marking the largest weekly gain in four months. This surge can be attributed to two primary factors. Firstly, there was an increase in the U.S. government bonds held by the Reserve Bank of India (RBI), contributing to the rise in reserves. The appreciation of non-dollar currencies played a significant role in bolstering the overall value of India's foreign exchange holdings. The Reserve Bank of India (RBI) has strategically allocated over two-thirds of its foreign currency assets in U.S. dollars, while the remaining portion is diversified across other major currencies, including the euro, yen, pound, and Chinese renminbi. Gaura Sen Gupta, an India economist at IDFC Bank, was quoted by Reuters as stating that a significant portion of the week-on-week increase in forex reserves was driven by revaluation gains due to dollar weakness and lower US Treasury yields. India's foreign exchange reserves have witnessed a remarkable upswing, enabling the country to reinforce its economic stability and resilience. The reserves have now reached a level where they can easily cover 11 months of imports, a significant increase from 9.3 months in December 2022 and just 8.9 months in September 2022. This strengthened position is a testament to India's growing financial strength and its capacity to navigate through global economic fluctuations. Furthermore, in the past three months, foreign investors have displayed strong interest in Indian shares, acquiring a net of $16 billion, as reported by the National Securities Depository Limited. This surge in foreign investment has provided the central bank with an opportunity to bolster its reserves by making strategic purchases from the market. India's forex reserves achieved a significant milestone when they first surpassed the $600 billion mark in June 2021, a remarkable feat facilitated by a surge in foreign direct investments flowing into the country. However, the forex market experienced heightened volatility in the wake of the Ukraine invasion, necessitating the central bank to intervene and stabilise the market by selling dollars. Despite these efforts, the reserves faced challenges due to sharp interest rate hikes in the United States, which impacted the forex market and resulted in a notable reduction in reserves during that period. Despite the temporary setback, India's proactive measures and strong foreign investment inflows continue to navigate through currency fluctuations and economic uncertainty. WATCH WION LIVE HERE