India's Forex Reserves Jump $14 Billion, Biggest Surge in 10 Months

India's foreign exchange reserves just jumped by a whopping $14 billion during the week ending January 16, reaching a record $701 billion! This surge, the biggest in 10 months, was fueled by a gold price hike and a clever swap by the RBI. Even though the rupee took a little dip, these reserves can now cover over 11 months of imports. Talk about a financial power-up!