India's forex reserves top $682 billion, strongest level ever

The Reserve Bank of India (RBI) announced that the country's foreign exchange reserves have risen to $682.2 billion, a record high. Governor Sanjay Malhotra said the reserve can cover about 11 months of imports and more than 89 % of India's external debt. The increase follows a two‑week dip that had seen the reserves fall by $15.61 billion. In the week ending 28 May, the reserve grew by $93.8 million to the current level, after a prior decline to $681.38 billion.

The composition of the reserve includes foreign currency assets of $546.15 billion, a gold stock of $112.6 billion, unchanged Special Drawing Rights of $18.75 billion, and an IMF reserve that rose to $4.82 billion. The RBI kept its repo rate unchanged at 5.25 % and maintained a neutral monetary‑policy stance, underscoring confidence in the economy despite global market volatility.