India’s forex reserves may have exceeded $600bn: RBI Governor Shaktikanta Das
The Hindu
The Central bank also announced G-SAP 2.0 which will help in calming yields and control undue volatility faced by market participants in the government securities market.
(RBI) Governor Shaktikanta Das on Friday said India’s forex reserves may have crossed record level of $600 billion on the back of robust capital flows. As per the RBI’s data issued on May 28, the country’s foreign exchange reserves rose by $2.865 billion to a record high of $592.894 billion for the week ended May 21, boosted by gold and currency assets. “Based on the current estimation, we believe that our forex reserves may have crossed $600 billion,” he said while announcing the bi-monthly monetary policy review.
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