India's forex reserves surge $44.9 billion to record $785.7 billion, fourth largest globally
India's foreign-exchange reserves surged to a record $785.706 billion.
This surge was driven by a dedicated dollar-mobilisation programme and strong inflows.
Foreign currency assets increased significantly, while gold reserves saw a contraction.
The central bank's intervention supported the local currency and curbed volatility.
These substantial inflows have stabilized the foreign exchange market and improved sentiment.
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