India's foreign exchange reserves increased by $14.1 billion to reach $707 billion — highest in current fiscal year
GK and monthly revision
Forex reserves soar to $707 billion, highest so far in current fiscal
India's foreign exchange reserves surged by $14.1 billion to reach $707 billion, the highest level in the current fiscal year. The increase was driven by a $9.9 billion rise in foreign currency assets and a $3.9 billion gain in gold reserves. Despite this growth, reserves remain below the all-time peak of $728 billion. The RBI received $56.8 billion in foreign currency inflows, with further inflows expected from FCNR(B) and ECB schemes until August 31, indicating strong external sector resilience.
Source: Economic Times. This summary and analysis are AI-written from that report and are not individually fact-checked — confirm names, dates and figures with the source before you rely on them.
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Key points
Exam-ready takeaways
Foreign currency assets rose by $9.9 billion and gold reserves increased by $3.9 billion
Reserves remain below all-time peak of $728 billion recorded earlier
RBI received $56.8 billion in foreign currency inflows
Further inflows expected from FCNR(B) and ECB schemes until August 31
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