India’s forex reserves top $600 billion, rise to near 15-month high

By Siddhi Nayak

India’s foreign exchange reserves rose for a third straight week to total $609.02 billion as of July 14, the highest in nearly 15 months, data from the central bank showed on Friday.

They rose by $12.74 billion from the week earlier – the biggest gain in four months – having risen by a total of $3.08 billion in the prior two weeks.

“A major portion of the week-on-week jump in forex reserves is driven by revaluation…