India's foreign exchange reserves cross $500 billion for the first time

by Business | 12-06-2020 | 560 views

India's foreign exchange reserves crossed the $500 billion mark for the first time, reaching $501.7 billion in the week ended June 5. The reserves increased by $8.2 billion during the week. India's current reserves provide an import cover of over a year. Foreign currency assets, the biggest component, are at $463.63 billion while gold reserves stand at $32.35 billion.

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