According to press information bureau, India’s foreign exchange reserves rose to $586.1 billion as of January 8, 2021.
Giving details of India’s foreign exchange reserves in last five years, the Minister stated that the country’s foreign exchange reserves position is comfortable in terms of import cover of more than 18 months and provides cushion against unforeseen external shocks. Government and RBI are closely monitoring the emerging external position calibrating policies or regulations to support robust macroeconomic growth.
Countries with the highest foreign reserves according to IMF
- China – $3,330 Billion
- Japan – $1,378 Billion
- Switzerland – $1,070 Billion
- Russia – $605.200 Billion
- India – $586.1 Billion
