Delhi– India has taken a new step in the category of foreign exchange reserves. Let us tell you that with its growing economic strength, India has achieved the important achievement of becoming part of the category of the largest foreign exchange reserves in the world, thus reaching the fourth position in the world after China, Japan and Switzerland. The Indian economy is creating new records every day. While there was a time when India’s economy was considered part of the ‘fragile five’. But India’s transition from the “fragile five” to the fastest-growing economy is an example for other developing countries.
Today India has not only become the fifth largest economy in the world but has also set a new record in terms of foreign exchange reserves. For the first time in history, India’s foreign exchange reserves have exceeded $700 billion. India’s foreign exchange reserves rose by $12.588 billion in a week to an all-time high of $704.885 billion in the week ending September 27, according to the Reserve Bank of India. However, the forex figures have declined from last month’s high. The recent drop in reserves is likely due to the RBI’s intervention to prevent a sharp fall in the rupee. The high cushion of foreign exchange reserves helps insulate domestic economic activity from global shocks.
According to the information, India’s foreign exchange reserves are now sufficient to cover a year or more of estimated imports. With this, India’s foreign exchange reserves are now enough to cover more than a year of estimated imports. Foreign exchange reserves, or foreign exchange reserves (foreign exchange reserves), are assets held by the central bank or monetary authority of a country. Foreign exchange reserves are generally held in reserve currencies.
