# India's forex reserves jump to record high

> India's foreign exchange reserves rose for a fifth straight week to a record $642.63 billion as of March 22. The increase was driven by currency market activity by the central bank.

- Date: 2024-03-29 · published 2024-03-29T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/31477-india-s-forex-reserves-jump-to-record-high
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Large reserves give the RBI room to defend the rupee, which indirectly limits import cost swings for feed buyers.

## Read by commodity

- USDINR: neutral

## Sources

- reuters.com: https://www.reuters.com/business/finance/indias-forex-reserves-jump-record-high-2024-03-29/

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