India's foreign exchange reserves surged by $6.6 billion to $665.4 billion in the week ending March 28, marking the highest increase in nearly five months. This rise follows a period of volatility, with foreign investors pulling back from Indian equity markets. The rupee appreciated by 0.6% against the US dollar, reflecting renewed investor confidence. The RBI manages these reserves to stabilize the rupee and ensure import coverage for 10-11 months, bolstering economic stability.
Source : India Tv
India's Forex Reserves Soar to $665.4 Billion: A Boost to Economic Stability