India’s foreign exchange reserves rose to $686 billion as of November 28, RBI Governor Shaktikanta Das said during the monetary policy briefing. The Governor highlighted that the sustained buildup in reserves strengthens India’s external sector stability and provides a stronger buffer against global financial volatility.
The robust reserve position comes amid the RBI’s ongoing efforts to manage currency fluctuations, including its recently announced $5 billion USD swap and continued market interventions to ensure orderly conditions in the forex market.
The Governor reiterated that India’s external metrics remain healthy, supported by resilient services exports and steady remittance inflows, even as merchandise exports face global headwinds.
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