Forex reserves hit all-time high of $724 bn

Mumbai: Despite global uncertainties, India’s foreign exchange reserves surged by $14.361 billion in the week ended January 30, reaching an all-time high of $723.774 billion, according to data released by the RBI on Friday.

In the previous week, the reserves had increased by $8.053 billion. The increase in foreign exchange reserves is primarily attributed to a rise in gold prices.