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.
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