India's Forex Reserves Witness a Significant Uplift

In a remarkable financial update, India's forex reserves have seen a substantial increase of $4.8 billion, soaring to $640.5 billion in the week ending February 21, as reported by the Reserve Bank on Friday. This surge comes after a previous week's decrease of $2.5 billion, bringing the reserves down to $635.7 billion.

The reserves have been on a downward trajectory for several weeks, attributed to revaluation and the Reserve Bank's interventions in the forex market aimed at stabilizing the rupee's volatility. Prior to this, the forex reserves had peaked at an all-time high of $704.9 billion by the end of September 2024.

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