According to recent data released by Reserve Bank Of India, India’s foreign Exchange reserves have touched its lifetime high of $461 billion. RBI data shows foreign exchange reserves as on January 10, 2020 is $461.21 billion.
According to recent date released by U.S Department of The Treasury, United States of America’s foreign exchange reserves as on January 10, 2020 is $129.16 billion.
What is Forex Reserves ?
Forex reserves are the cash and other reserves assets of a country which is held by the central bank or other monetary authority of the country which are used in balance payments of the country, influence the foreign exchange rate of its currency, and to maintain confidence in financial markets.