India’s foreign exchange reserves climb nearly $10 billion to $716.9 billion

India’s foreign exchange reserves rose by about $9.91 billion to $716.91 billion as of Aug. 10 from roughly $707 billion in the previous reporting period, according to Reserve Bank of India data cited in a new update. Separate, more detailed reporting put reserves at $716.907 billion in the week to Aug. 14, with foreign currency assets and gold holdings accounting for most of the increase. The gains reflect dollar inflows generated by RBI measures, valuation changes in non-dollar assets and likely foreign-exchange market intervention. Reserves have risen for seven consecutive weeks, reaching a level close to the February record of $728.5 billion and providing about 11 months of import cover. The buffer strengthens India’s ability to manage rupee volatility and withstand external shocks, while supporting investor confidence.

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