India’s FX reserves jump $7.3 bn as FCNR(B) and ECB inflows revive
The RBI reported foreign exchange reserves rose to $674 bn in the week to July 3, driven by a $4.5 bn gain in foreign‑currency assets and a $2.5 bn rise in gold holdings. The uptick follows a limited‑period scheme to attract FCNR(B) deposits and ECB swaps, hinting at renewed external funding streams that could bolster the rupee and give the central bank more policy wiggle room.