India's Foreign Exchange Reserves Surge to all time high

 

India's Foreign Exchange Reserves Surge To

 $ 600 Billion.

India's foreign exchange reserves increased by US$ $5 billion to cross the $600billion mark and rise to a fresh record high.

Last week, on the 28th May 2021 it was $596 billion.  

And it was announced in a statement of the hon. governor of the RBI (RESERVE BANK OF INDIA Mr. Shaktikanta Das during the bi-monthly monetary policy address

He said that the success of these efforts “is reflected in the stability and orderliness in market conditions and the exchange rate.

In the process, strength is imparted to the country’s balance sheet by the accumulation of reserves.