Team Blitz India
NEW DELHI:India’s foreign exchange reserves which have reached an all-time high are sufficient to cover 11 months of projected imports, according to the Monthly Economic Review report of the Department of Economic Affairs under the Ministry of Finance.
Also, the current foreign exchange reserves are sufficient to cover more than 100 per cent of total external debt. Notably, capital inflows in India saw a significant turnaround in the just-concluded financial year 2023-24.
India’s foreign exchange reserves have risen for the seventh straight week to hit an all-time high of $648.562 billion in the week that ended on April 12. Foreign exchange reserves have risen about $23 billion, on a cumulative basis, in 2024 so far.
