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Anand Rathi Report
India’s foreign exchange reserves scaled another all-time high of 538 billion dollar on August 07, 2020 – an increase of 3 billion dollars over the previous week.
Among the G-20 countries, India is the country with the third-largest foreign exchange reserves. Globally, India has the fourth-largest reserves.
In 2020 so far, India’s foreign currency reserves have gone up by 64 billion dollars, and gold reserves by 12 billion dollars. In the last one year, its forex reserves have increased by 108 billion dollars.
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 32 billion dollars.
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