India's foreign exchange reserves surged for the fourth consecutive week, reaching an unprecedented high of USD 642.292 billion by March 15, according to recent data from the Reserve Bank of India (RBI). The reserves saw a notable increase of USD 6.396 billion during this week alone. Prior to this, in the week ending March 8, the reserves had surged by USD 10.470 billion, totaling USD 636.095 billion.

The central bank's weekly statistical data revealed that India's foreign currency assets (FCA), the largest component of the forex reserves, climbed by USD 6.034 billion to USD 568.386 billion in the latest reporting period. Additionally, gold reserves saw a rise of USD 425 million, reaching USD 51.140 billion.

In the fiscal year 2023, the RBI bolstered the forex kitty by approximately USD 58 billion. This marked a significant recovery following a cumulative slump of USD 71 billion in India's forex reserves during 2022.

Foreign exchange reserves, also known as FX reserves, consist of assets held by a nation's central bank or monetary authority. These reserves are typically denominated in reserve currencies such as the US Dollar, Euro, Japanese Yen, and Pound Sterling.

India's foreign exchange reserves surged for the fourth consecutive week, reaching an unprecedented high of USD 642.292 billion by March 15, according to recent data from the Reserve Bank of India (RBI). The reserves saw a notable increase of USD 6.396 billion during this week alone. Prior to this, in the week ending March 8, the reserves had surged by USD 10.470 billion, totaling USD 636.095 billion.

The central bank's weekly statistical data revealed that India's foreign currency assets (FCA), the largest component of the forex reserves, climbed by USD 6.034 billion to USD 568.386 billion in the latest reporting period. Additionally, gold reserves saw a rise of USD 425 million, reaching USD 51.140 billion.

In the fiscal year 2023, the RBI bolstered the forex kitty by approximately USD 58 billion. This marked a significant recovery following a cumulative slump of USD 71 billion in India's forex reserves during 2022.

Foreign exchange reserves, also known as FX reserves, consist of assets held by a nation's central bank or monetary authority. These reserves are typically denominated in reserve currencies such as the US Dollar, Euro, Japanese Yen, and Pound Sterling.