Forex Reserves Jump To A Lifetime High Of $410 Billion

Subscribe to GoodReturns
For Quick Alerts
For Daily Alerts

    The forex reserves of the country not only logged the $400 billion mark but also hit a new lifetime high of $409.366 billion backed by an increase in assets in foreign currency.

    Forex Reserves Jump To A Lifetime High Of $410 Billion

    The foreign credit rating agencies including Moody's and S&P have been highly upbeat about the increased forex to such levels while computing credit rating. And it is expected that current forex with the government is sufficient to meet the imports for 11 months.

    And at a time when the chances of the country breaching its fiscal deficit target of 3.2% of the GDP have been heightened due to spurt in crude oil prices to levels over $65 per barrel and lower GST collection, the increased foreign reserve is a big positive for the Indian economy.

    The surge is attributable to increase in investment inflows, portfolio inflows as well as a narrower current account deficit or CAD. DBS said, the stock is enough to handle any global risks.

    Story first published: Saturday, January 6, 2018, 10:27 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more