Monetary Policy & Banking
Forex reserves hit record $740.8 billion, lift rupee
What's happening now
India's foreign exchange reserves have surged to a record $740.8 billion, leading to a significant appreciation of the Indian Rupee against the US dollar. This strengthening of the Rupee comes as the Reserve Bank of India actively intervenes in the forex market to manage currency volatility and combat imported inflation.
Source: Economic TimesRead the full story →