India’s Forex reserves reaches lifetime high of $461 billion, 4 times more than USA

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.

Source: RBI

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.

US Forex Reserves as on 10 Jan, 2020 Source

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.

Also Read: India’s Forex reserves reaches lifetime high of $437.83 billion, 30 times more than Pakistan’s total liquid foreign reserves

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