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Foreign exchange reserves. continue to rise hitting fresh high of $684 bn
The Daily Guardian
|September 07, 2024
India's foreign exchange reserves increased by $2.299 billion, reaching a fresh record high of $683.987 billion, during the week that ended on August 30, according to data released by the Reserve Bank of India on Friday.
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The previous record high was $681.688 billion.
The reserves have been on an upward trend for some time. In 2024 alone, they have risen by over $60 billion cumulatively. This buffer of foreign exchange reserves helps insulate domestic economic activity from global shocks.
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