How India's Forex Reserves Crossed $500 Billion For The First Time

by Rahul Gautam Jun 13, 2020 • 06:39 PM Views 1474

India’s foreign exchange reserves have soared past half a trillion dollars for the first time. Foreign currency reserves crossed the $ 501.7 billion mark on June 5, with an increase of eight billion dollars in a week. However, reasons behind surge are stalled economic activities, decrease in fuel consumption and sharp dip in outward remittances.