India emerges as 5th largest forex reserves in the world

India has emerged as the fifth largest foreign exchange reserves holder in the world after China, Japan, Switzerland and Russia. Now current forex reserves is $608.99 billion as on 25th June 2021. India’s foreign exchange reserves position is comfortable in terms of import cover of more than 18 months and provides cushion against unforeseen external shocks.

About Foreign exchange reserves
Foreign exchange reserves (forex reserves) are cash and other reserve assets such as gold held by a central bank or other monetary authority that are primarily available to balance payments of the country.

​Sources :  PIB