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India's Forex Reserves Surge
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Overview
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India's foreign exchange reserves reached a 1-month high of USD 622.47 billion, driven by a substantial increase in foreign currency assets, reaching USD 551.331 billion. The rise was also influenced by a significant increase in gold reserves, amounting to USD 608 million to USD 48.088 billion. The Reserve Bank of India closely monitors the foreign exchange markets and intervenes only to maintain orderly conditions.
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How does India's forex reserves compare to other major economies in terms of stability and intervention?
How might the surge in India's forex reserves impact its economy and international trade?
What strategies could the Reserve Bank of India employ to sustain the growth of its foreign exchange reserves?
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