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Anand Rathi Report
India’s foreign exchange reserves scaled another all-time high of $535 billion on July 31, 2020, a $12 billion increase over the prior week.
Among the G-20 countries, India has the third-largest foreign exchange reserves. Globally, India has the fourth-largest reserves.
In 2020 so far, India’s foreign currency reserves have risen by $62.9 billion and gold reserves by $9.6 billion. In the last one year, India’s forex reserves have increased by $106 billion.
The rupee has depreciated considerably in the last 12 months. But for this (i.e. in constant dollar terms), India’s foreign exchange reserves would have increased by another $41 billion.
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