India's forex reserves hit an all-time high of $657.16 bn

India's foreign exchange reserves reached a record high of $657.16 billion as of July 5, marking a significant increase of $5.16 billion from the previous week. This surge was driven by a rise in Foreign Currency Assets (FCAs), which grew by $42.29 billion to $577.11 billion. FCAs include holdings in currencies like the euro, pound, and yen, adjusted for their exchange rate fluctuations against the US dollar.