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Will India's Forex Reserves hit $670 billion by the end of 2024?
4
Resolution / Starting Odds
Yes • 50%
No • 50%
Data released by the Reserve Bank of India (RBI)
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India's Forex Reserves Hit All-Time High of $657.16 Billion on July 5, Up $5.16 Billion
Jul 15, 2024, 08:40 AM
India's foreign exchange reserves reached an all-time high of $657.16 billion during the week ended July 5, 2024, according to data released by the Reserve Bank of India (RBI). This marks an increase of $5.158 billion from the previous week, when reserves stood at $652.00 billion. The rise in reserves is attributed to a significant increase in foreign currency assets, which grew by $4.23 billion to $577.11 billion. The stockpile grew by $5.2 billion in that week. The milestone comes a week after India's sovereign debt was included in a key emerging market index, which likely contributed to the surge in reserves.
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