Record Reserves Boost India RBI’s Firepower to Shield Rupee

India’s foreign exchange reserves climbed to a record, bolstering the country’s ability to shield the rupee from excessive volatility and speculation.

The stockpile rose by about $8.05 billion to $709.4 billion in the week ended Jan. 23, according to data released by the Reserve Bank of India on Friday. That beats a previous high of $704.89 billion set in September 2024.