India Emerges As 5th Largest Forex Reserves Holder In The World With $608.99 Billion As On June 25, 2021
With India’s forex reserves at $608.99 billion as on June 25, 2021 stood, India has emerged as the fifth largest foreign exchange reserves holder in the world after China, Japan, Switzerland and Russia. This was stated by Minister of State for Finance Shri Pankaj Chaudhary in a written reply to a question in the Lok Sabha today.
The Minister stated that India’s foreign exchange reserves position is comfortable in terms of import cover of more than 18 months and provides cushion against unforeseen external shocks. Government and RBI are closely monitoring the emerging external position calibrating policies or regulations to support robust macroeconomic growth.
Read More At: https://pib.gov.in/PressReleasePage.aspx?PRID=1736885
- 20 Jul 2021