India's Forex Reserves Soar by $14 Billion in a Week, Cross $701 Billion Mark

• India's foreign exchange reserves surged by $14.16 billion, reaching $701.36 billion in the week ending January 16, 2025.
• Foreign Currency Assets (FCA) increased by $9.65 billion to $560.51 billion, reflecting appreciation of non-US currencies.
• Gold reserves also saw a significant rise, increasing by $4.62 billion to $117.45 billion during the reporting week.
• The reserves had previously hit an all-time high of $704.89 billion in September 2024.
• Foreign exchange reserves are vital for economic stability, import payments, rupee stabilization, and investor confidence.

Why It Matters: India's foreign exchange reserves saw a substantial weekly increase, reinforcing the nation's economic stability.