India's forex reserves at 11-month high of merchandise exports: RBI Guv Sanjay Malhotra

RBI Governor Sanjay Malhotra announced that India's forex reserves have reached an 11-month high relative to merchandise exports. The reserves increased by $2.7 billion, reaching $698.19 billion for the week ending July 25, according to RBI data. The RBI intervenes in the market to manage liquidity and prevent excessive rupee depreciation, maintaining orderly market conditions.