FCNRB deposits push forex reserves to all-time high of $729 billion in August
The Reserve Bank of India's Foreign Currency Non-Resident (Bank) deposits have driven India's foreign exchange reserves to a record $729.33 billion as of August 21. This increase of $12.42 billion in one week signals enhanced capacity for the RBI to stabilize the rupee amid significant foreign fund outflows. Investors are closely monitoring these developments as they impact market confidence.