India's Forex Reserves Rebound with Significant Increase
India's foreign exchange reserves surged by USD 5.574 billion to USD 629.557 billion as of January 24, reversing a recent declining trend. The increase is attributed to foreign currency assets and gold reserves, with changes also influenced by market interventions and global currency values.

- Country:
- India
India's foreign exchange reserves marked a substantial increase, rising by USD 5.574 billion to reach USD 629.557 billion by January 24, according to the Reserve Bank of India.
This rebound follows a drop the previous week when reserves slipped by USD 1.888 billion to USD 623.983 billion, continuing a downward trend attributed to currency revaluation and RBI's market interventions.
The notable surge was primarily driven by a USD 4.758 billion increase in foreign currency assets and a USD 704 million gain in gold reserves. Additional contributions came from upticks in Special Drawing Rights and India's position with the IMF, signaling a strengthening financial buffer for the nation.
(With inputs from agencies.)
ALSO READ
Pakistan Sets Bold Deadline for PIA Sale Amid IMF Pressure
Lebanon and IMF Forge New Economic Path
Reviving the Economy: Lebanon's New IMF Deal on the Horizon
Pakistan's Economic Balancing Act: Navigating Inflation, Interest Rates, and IMF Reforms
IMF Boosts Egypt's Economic Stability with $1.2 Billion Disbursement