India's forex reserves near record high at $702.28 billion
India's foreign exchange reserves rose by $4.5 billion to $702.28 billion for the week ending October 17, nearing the all-time high of $704.89 billion. The jump was mainly due to a rise in gold reserves, which climbed by $6.18 billion. The RBI said the reserves can cover over 11 months of imports, reflecting strong external stability.