India’s forex reserves jump by $15.27 billion to hit $653.97 billion, marking highest weekly gain in three years

India’s foreign exchange reserves have witnessed a significant increase of $15.27 billion, reaching a total of $653.97 billion as of 7 March. This surge marks the sharpest weekly gain in over three years, showcasing a remarkable turnaround following months of volatility and hitting an 11-month low. The Reserve Bank of India’s proactive management strategies have played a crucial role in stabilizing the Indian Rupee amidst challenging global economic conditions. This substantial boost in forex reserves reflects positively on India’s economic resilience and ability to navigate through uncertain times.

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