# India's foreign exchange reserves rise for third week, hit record high

> India's foreign exchange reserves rose for a third straight week to a record high as of July 19, according to RBI data released Friday. Changes reflect RBI intervention and valuation of foreign assets.

- Date: 2024-07-26 · published 2024-07-26T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/29571-india-s-foreign-exchange-reserves-rise-for-third-week-hit-record-high
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Large reserves give the RBI capacity to keep defending the rupee, which supports stable import costs for Indian feed buyers without a clear direct price effect on grains.

## Sources

- reuters.com: https://www.reuters.com/world/india/indias-foreign-exchange-reserves-rise-third-week-hit-record-high-2024-07-26/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.