India's foreign exchange reserves $716.9 billion after nearly $10B gain
Business
India's foreign exchange reserves climbed to $716.9 billion, up by nearly $10 billion in a single week ending August 14.
This is the second week in a row with big gains, showing strong momentum for the country's financial safety net.
Foreign currency deposits $7.2B, gold $2.67B
Most of this boost comes from foreign currency deposits and gold. Foreign currency assets grew by $7.2 billion, while gold reserves jumped by $2.67 billion to $111.41 billion.
Even though there was a tiny dip in SDRs, India's position with the IMF got a little stronger too.
Overall, it's good news for economic stability during uncertain times.