During the Corona period, economic growth came to a halt in India. GDP has plummeted. But in the meantime, India's foreign exchange reserves are showing hope. India's foreign exchange reserves rose the most in the first week of October. At the moment, the country has reached the top five in the list of foreign exchange reserves.
On the 9th of this month, India's foreign exchange reserves increased by US ৫ 5.6 billion to US ৫ 551, the highest ever. Earlier, on October 2, the amount was ৫ 545.
According to experts, these currency savings indicate that foreign investment in India is increasing overall. Besides, foreign companies are also showing interest in the Indian market.
The increase in exports is also one of the reasons for the increase in currency savings. The fall in crude oil and gold prices during the Corona period also helped boost these savings. As a result of this increase, the value of money will rise against the dollar.
China tops the list, followed by Japan, Switzerland, Russia and India.
Earlier, in the first week of June, the country's foreign exchange reserves rose by ২ 8.22 billion to a maximum of ১ 501.60 billion. According to the Reserve Bank of India (RBI), a major component of aggregate reserves is foreign exchange reserves (FCA).
All in all, the Modi government's economy has come under repeated fire from the opposition in the country. This time the success gave some relief to the government