Why are India’s Forex reserves rising despite economic slowdown? 

Why are India’s Forex reserves rising despite economic slowdown? 

India’s foreign exchange reserves have jumped by $100 billion in 10 months to a record high of $534.5 billion. The rise has been led by strong foreign fund inflows recently and decline in import bill due to dip in crude oil prices and trade impact following COVID-19 pandemic. Reduced imports of gold also cut down India’s import bill. 

Inshorts – News App Reserve bank of india

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