India’s foreign exchange reserves have soared past half a trillion dollars, helped by a rebound in equity flows and foreign direct investment deals. Forex exchange reserves rose to $501.7 billion for the week ended June 5, up by $8.22 billion. This is the highest level of forex reserves India has ever held.
Big contributor of foreign investments is Mukesh Ambani owned Reliance Jio. It is expected to bring in more dollar flows.
Read more at: https://www.bloombergquint.com/economy-finance/indias-forex-reserves-surge-past-500-billion
