India becomes world’s 4th-largest forex holder with reserves hitting record $785.7 billion
- India’s forex reserves rose by a record $44.9 billion in one week to $785.7 billion, a new high.
- The jump pushed India past Russia to become the world’s fourth-largest holder of foreign exchange reserves.
- India now ranks behind China, Japan and Switzerland in total forex reserves globally.
- The increase was mainly driven by a $47.4-billion rise in foreign currency assets during the week.
Source: ap7am.com
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