India's Forex Reserves Hit Record $729 Billion, Gold Holdings Rise $2.8B

India's foreign exchange reserves climbed to an unprecedented $729.33 billion by August 21, driven by sustained capital inflows from regulatory measures and the FCNR-B swap window. This record surge included a $2.8 billion rise in the value of the central bank's gold holdings, alongside a $9.5 billion gain in foreign currency assets. The Reserve Bank of India also actively intervened to support the rupee amidst these inflows. This substantial increase in India's gold reserves could signal continued central bank interest in bullion, potentially offering underlying support for international gold prices and influencing investor sentiment in Pakistan.

بحوالہ / Source: www.brecorder.com