India TV

India's forex reserve jumps $9.9 billion to $716.9 billion, nearing February's record high level

India's foreign exchange reserves have surged by nearly USD 10 billion in a week, moving significantly closer to the record level touched earlier this year. According to the latest data released by the Reserve Bank of India (RBI) on Friday, the country's forex reserves rose by USD 9.905 billion to USD 716.907 billion in the week ended August 14. The latest increase comes after an even sharper rise in the preceding week. For the week ended August 7, India's overall foreign exchange reserves had climbed by USD 14.136 billion to USD 707.002 billion. The latest data underline a strong recovery in India's external reserves after they came under pressure earlier this year amid heightened global uncertainty and volatility in the currency market.