Current Affairs - Economy - Discussion

$729.3 billion was the record level reached by India’s foreign exchange reserves in the week ended August 21. The reserves increased by $12.4 billion, surpassing the previous record of $728.5 billion recorded in February. The rise was supported by strong capital inflows following the RBI’s concessional swap window and revaluation gains. Foreign Currency Assets increased to $591.33 billion, while gold reserves rose to $114.22 billion. The RBI’s swap window had brought in around $72.8 billion by August 21. At the new record level, India’s forex reserves were sufficient to cover more than 11 months of goods imports.