India's foreign exchange reserves hit a record-breaking 90 590 billion

New delhi date. Saturday, February 6, 2021

The country's foreign exchange reserves have now reached record highs. The country's foreign exchange reserves have risen by ડો 4.85 billion during the week ended January 29 to 90 590 billion.

According to the Reserve Bank of India, the country's foreign exchange reserves stood at 58 585 billion as on January 22, which has risen again.

Foreign exchange reserves are deposits made by the country's banks in one form or another. Used to repay foreign debts as needed. The amount of foreign exchange reserves also reflects the state of the country's economy.

In 1991, India had to pledge its gold to raise money. To secure કરોડ 400 million, India pledged 47 tonnes of gold to the Bank of England.

However, India now has enough foreign exchange reserves to easily pay the one-year import bill. With sufficient foreign exchange reserves, the government can easily make decisions for immediate procurement of military equipment.