India’s Forex Reserves Surpass USD 600 Billion Mark

India's Forex Reserves Surpass USD 600 Billion Mark

VoM News Desk | December 9, 2023 | 10:06 AM IST | Breaking News | Follow on Google News

India’s Forex Reserves Surpass USD 600 Billion Mark Image/NDTV

India’s Forex Reserves Surpass USD 600 Billion Mark

India’s foreign exchange reserves reached USD 604 billion as of December 1, 2023, surpassing the USD 600 billion mark after a four-month gap.

Reserve Bank Governor Shaktikanta Das expressed confidence in meeting external financing requirements comfortably.

The reserves were last above USD 600 billion on August 11, 2023, and had touched an all-time high of USD 642 billion in October 2021. Despite global pressures, the Indian rupee exhibited low volatility, reflecting the country’s improving macroeconomic fundamentals and resilience.

Foreign portfolio investment (FPI) flows saw a significant turnaround in 2023-24, with net FPI inflows of USD 24.9 billion.

India’s external vulnerability indicators demonstrate higher resilience compared to emerging market economy peers.

India’s Forex Reserves Surpass USD 600 Billion Mark: For any Query, Error

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