PR No – 151
30th August, 2024
New Delhi
India’s FOREX at record all time high level creates external sector resilience: PHDCCI
The record all time high level of India’s FOREX will create external sector resilience, said Shri Sanjeev Agrawal, President, PHD Chamber of Commerce and Industry.
With the support of strategic policy initiatives and a diligent monetary policy stance, the FOREX has reached a record all-time high of over USD 681 billion (as of August 23, 2024), amidst global economic headwinds and deepening geopolitical uncertainties, said Shri Sanjeev Agrawal.
This will boost India’s economy on a faster development trajectory, strengthening its position internationally, drawing in foreign investments, and promoting domestic trade and industry said Shri Sanjeev Agrawal.
Moving ahead, the country’s substantial foreign exchange reserves will provide the RBI 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