RBI Has The Last Laugh As Forex Reserves Hit A New High In March 2024

India’s foreign exchange (forex) reserves reached an all-time high of US$ 645.6 billion as of March 29, 2024. Latest data on various external vulnerability indicators suggest improved resilience of India’s external sector. Listen to what the RBI Governor had to say on the issue. Shankikanta Das goes off-script in his Monetary Policy Statement and recalls facing a lot of flak after the reserves dipped to around $520 bn in the wake of Ukraine war and high crude prices. The Governor explains how the RBI withstood the challenge and the forex reserves are back into the $600-bn territory and in fact hit a new, record high on March 29