India overtakes Russia in 4th spot after FX reserves post record weekly gain
India surpassed Russia to become the fourth-largest holder of foreign exchange reserves, reaching a record $785.71 billion after a historic $45 billion increase in the week ending September 4. This surge is over two-and-a-half times higher than the previous record gain of $16.7 billion. The Reserve Bank of India reported the data, marking a significant milestone for the country.