India's forex reserves rise by $11.47 billion to hit record high of $740.80 billion as of August 28

India's foreign exchange reserves saw a substantial increase of $11.475 billion. This brought the total reserves to $740.8 billion by August 28. The Reserve Bank of India monitors foreign exchange market developments closely. It intervenes when necessary to ensure orderly market conditions. The central bank refrains from targeting any specific exchange rate.