RBI push: Forex reserves at all-time high of $729.3bn

MUMBAI: The country’s foreign exchange reserves rose by $12.4 billion in the week ended Aug 21, to an all-time high of $729.3 billion, driven largely by non-resident deposits drawn through a special scheme under which RBI took over the foreign currency risks from banks. Foreign currency assets, the largest component, rose $9.5 billion to $591.3 billion, while gold reserves increased $2.8 billion to $114.2 billion.

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