Record $44.9bn jump takes India’s forex reserves to lifetime high of $785.71bn

Amid the US-Iran war, India has achieved its highest foreign exchange reserves ever. Back in 2014, India’s forex reserves were around $300 billion. Since then, they have then risen most years, with the last few years seeing a big bump up as gold prices rallied and the percentage of gold in India’s forex reserves went up.India's foreign exchange reserves surged by a record $44.903 billion in the week ended September 4, taking the country's reserves to a fresh lifetime high of $785.706 billion, according to data released by the Reserve Bank of India (RBI) on Friday.This followed an increase of $11.475 billion in the preceding reporting week, when the overall reserves had climbed to a then-record $740.803 billion.India's forex reserves had been under pressure since the West Asia conflict began earlier this year.