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India’s Reserves Hit Record High | India News
India’s forex reserves hit a record $729 billion, fueled by a wildly successful FCNR(B) swap window that drew over $65 billion—thanks to RBI-backed exchange rate protection. With global volatility and rupee pressure mounting, this move not only stabilized reserves but also made India more attractive to foreign investors. So effective was the scheme that RBI shut it down early, ahead of schedule, signaling its mission was accomplished. Other swap windows remain open until December, with FCNR(B) leading the charge in boosting India’s financial resilience. Listen in comfort:Get a discount on a…
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