India FX reserves hit record 785 billion dollars
India foreign exchange reserves climbed to a record high of 785 billion dollars driven by robust capital inflows and policy measures. The central bank data showed a strong weekly surge supported by non-resident deposits.
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India's foreign exchange reserves surged $45 billion on-week to reach a record $785.7 billion by September 4, central bank data showed on Friday. The milestone marks ten consecutive weeks of gains, lifting the country's total pile by nearly $120 billion during the period. The rapid accumulation follows aggressive central bank measures implemented in June to stimulate overseas capital inflows.
