India's foreign exchange reserves have climbed to a record $729.3 billion after a $12.4 billion surge during the week concluding on August 21. This figure eclipses the former record of $728.5 billion established back in February. This growth was driven by several Reserve Bank of India initiatives, such as a unique deposit scheme for non-resident citizens. These actions played a key role in preventing a third consecutive year of forex deficits for the country.

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