Sun. Jun 23rd, 2024
India's Forex Reserves Soar to Unbelievable Height; crosses $600 billion

India’s Forex Reserves Soar to Unbelievable Height; crosses $600 billion

India’s Forex Reserves Soar to Unbelievable Height; crosses $600 billion, India Stands at number 3 in global foreign exchange reserves.

According to statistics from the RBI issued on July 21 the currency reserves of India increased by $12.74 billion to $609.02 billion in the week ending July 14.

India’s foreign exchange reserves hit a record peak of $645 billion in October 2021. However, since then, the foreign reserves have been gradually declining as the RBI used them to support the Indian rupee against pressures arising from global developments and the post-pandemic era.

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