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- India has become the fourth country to surpass 700 billion US dollars in foreign reserves.
- China, Japan, and Switzerland are the other countries having more than 700 billion dollars in Forex reserves.
- India’s foreign exchange reserves touched a new all-time high of 704.885 billion dollars for the week ending September 27.
- The sharp increase in forex reserves will strengthen India’s ability to tackle global economic uncertainties.
- It will also provide greater stability to its currency in the volatile international markets.
- India’s gold reserves rose 2.184 billion to 65.796 billion dollars.
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