India's foreign exchange kitty has swelled up for a record high, crossing $600 billion for the first time ever.
As per data from the RBI forex reserves grew by $6.8 billion for the week ended June 4 putting the total at $605 billion. This record high reserve level puts India amongst the top 5 countries with the highest forex kitty.
The forex war chest is enough to cover 16 months of imports, giving India ample immunity in case of any global uncertainty.
From the time the pandemic started India's forex reserves has grown from by over a $123 billion from $477 billion in March 2020 to te current level of $600 billion. In fact since 2017 when RBI Governor Shaktikanta Das took over the pace of accumulation of reserves has been steadily rising.