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Story summary
- RBI lifted foreign exchange reserves to $716.9 billion, the highest level in six months.
- Reserves rose $10 billion week-on-week, driven by $7.2 billion foreign-currency asset increase.
- RBI launched discounted hedging for state-run firms and banks in June to attract overseas FX deposits.
- By August 13, RBI reported $57 billion inflows, including over $50 billion as FX deposits.
- RBI moved the deposit-hedging facility closure to August 31 because of large inflows.
