Forex Reserves Hit Fresh All-Time High

This week’s #Arthanomics post is about the rise in the Forex reserves that have hit an all-time high.The sharp jump in #forexreserves is seen over the last nine months which started with the finance minister Nirmala Sitharaman’s announcement to cut corporate tax rates on September 20, 2019. Since then, forex reserves have raised to US$522630 Million (as on July 24, 2020)from US$ 461.16 Billion (January 3, 2020). The post talks about the growing trend, reasons for the rise, benefits, and the impact that it can have on the economy.

Credits: Abhishek Tomar, Deepali Bisht