Currency Swap Line
In the wake of the coronavirus pandemic, India is working with the United States to secure a dollar swap line that would help in better management of its external account and provide extra cushion in the event of an abrupt outflow of funds.
Current Status of India’s Foreign Exchange Reserves
- As per the latest data reported by the RBI, India’s foreign exchange reserves have fallen by nearly $13 billion — from $487.23 billion on March 6 to $474.66 billion as on April 3, 2020.
- According to RBI, 63.7% of India’s foreign currency assets — or $256.17 billion — are ....
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