PR No – 148
23rd August, 2024
New Delhi
PHDCCI appreciates India’s FOREX hovering around all-time record high level
India’s FOREX hovering around all-time record-breaking position is highly appreciable, said Shri Sanjeev Agrawal, President, PHDCCI in a press statement issued here today.
With prudent policy initiatives and a diligent monetary policy stance, supporting India’s strong position against global economic headwinds and a volatile geopolitical landscape, the FOREX is hovering around record high at over USD 674 billion (as of August 16, 2024), said Shri Sanjeev Agrawal.
This will propel India’s economy on a faster development trajectory, raising its international standing, drawing in foreign investments, and promoting domestic trade and industry, said Shri Sanjeev Agrawal.
The country’s substantial foreign exchange reserves will provide the RBI with greater flexibility in monetary policy and currency management, said Shri Sanjeev Agrawal.
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Warm Regards,
Media Division
PHD Chamber of Commerce and Industry