June 2020 is historic for India as the foreign exchange reserves with the reserve bank of India went past the mark of 500 billion US dollars. It is one hundred times the amount RBI held forty years back when India suffered the worst sovereign debt crisis.
They are made up of
We need them for a variety of reasons like
Yes, the economy is contracting. On June 1, Moody’s cut the nation’s rating to the lowest investment grade. Remittances from the Indian diaspora declined due to global economic devastation. However,
Yes, rupee fell all the way down to almost Rs.77 for a dollar. Its performance is sub-par. That is because,