India’s forex reserves explained: What they are, who owns them, and how RBI uses them
India’s foreign exchange reserves jumped $7.26 billion to $674.193 billion during the week ended July 3, the Reserve Bank of India said on Friday. In the previous reporting week, the forex kitty had dropped by $5.654 billion to $666.933 billion. The kitty had expanded to an all-time high of $728.494 billion during the week ended…