India's forex reserves may have exceeded $600 billion: RBI Governor

RBI Governor Shaktikanta Das said on Friday that India's forex reserves may have exceeded an all-time high of $600 billion. His statement came during the bi-monthly monetary policy address.

Reserve Bank of India (RBI) Governor Shaktikanta Das on Friday said the country’s forex reserves may have exceeded a record level of $600 billion. Das’s statement came while he was sharing details about the bi-monthly Monetary Policy Committee (MPC) review earlier in the day. “Based on the current estimation, we believe that our forex reserves may have crossed USD 600 billion,' Governor Das said. Shaktikanta Das said that the central bank actively engages in both purchases and sales in the foreign exchange market and various other segments. He said that the success of these efforts “is reflected in the stability and orderliness in market conditions and in the exchange rate in spite of large global spillovers”.