Business Standard

Forex reserves hit lifetime high of $426 bn, thanks to currency swaps

The present level is highest since April 13, 2018, when the reserves were at $426.08 billion

Forex reserves
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Anup RoyPTI
India’s foreign exchange reserves have touched a record high level of $426.42 billion as on June 21, thanks to the two $5 billion each swaps initiated by the central bank in March and April. 

The present level is highest since April 13, 2018, when the reserves were at $426.08 billion. 

The RBI conducted the currency swaps to induce durable liquidity in the system. The swaps would be reversed in three years. 

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First Published: Jun 29 2019 | 2:19 AM IST

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