Forex reserves rise $4.8 billion to record $652 billion

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MUMBAI: India’s overseas alternate reserves jumped $4.8 billion to hit a record excessive of $651.5 billion within the week ended May 31, 2024, with the present account deficit considerably shrinking throughout This autumn FY24 due to robust progress in companies and sturdy remittances.
In his financial coverage assertion, RBI governor Shaktikanta Das mentioned India’s exterior sector stays resilient and that key exterior vulnerability indicators proceed to enhance.Incidentally, India Ratings mentioned in a report that the present account in This autumn FY24 was possible to have was a surplus for the primary time in 10 quarters.
“The phenomenal rise of GCCs in India has provided a significant boost to India’s software and business services exports,” mentioned Das.


Nilesh Desai
Nilesh Desaihttps://www.TheNileshDesai.com
The Hindu Patrika is founded in 2016 by Mr. Nilesh Desai. This website is providing news and information mainly related to Hinduism. We appreciate if you send News, information or suggestion.

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