India#39;s Forex Reserves — $400 billion and counting

Sep 16, 2017 07:00 PM IST | Source:

India’s Forex reserves have grown over 71 times in the last twenty six years, and is enough to pay for all its imports for the coming ten months

India's Forex Reserves — $400 billion and counting

Moneycontrol News

India’s forex reserves have now surpassed $400 billion. As per the most recent available RBI data India’s forex reserves stood at USD 400.726 billion in the week ended September 8 on account of rise in foreign currency assets.

The country’s foreign exchange reserves have come a long way since 1991 when the reserves could barely last two weeks. There has been a 71-fold increase in Forex reserves in the last twenty-six years.

The reserves are held by the central bank of a country to pay its liabilities like the price of foreign imports. The reserves are held mainly in US dollars and in some cases in Japanese Yen.

Watch | India’s Forex Reserves — $400 billion and counting – Insight18