India's foreign exchange reserves reached $689.46bn on September 13 due to increased gold reserves and RBI's actions.

India's foreign exchange reserves reached a record $689.46 billion as of September 13, driven by a rise in gold reserves and supported by the Reserve Bank of India's interventions to stabilize the rupee. This marks the fifth consecutive week of growth, with the rupee strengthening amid global market fluctuations. However, the strategy has drawn criticism from the U.S. Treasury, and the RBI may consider lowering interest rates as inflation eases.

September 20, 2024
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