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Import Cover: Rises to 10 months

  • IASbaba
  • December 22, 2019
  • 0
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Import Cover: Rises to 10 months

Part of: GS Prelims and GS-III- Economy

In News

  • RBI has stated that the foreign exchange reserves has increased to $429.84 billion as at end June 2019 from $412.47 billion as at end March 2019. 
  • As a result, the import cover rose to 10 months compared with 9.6 months
  • Import Cover measures the number of months of imports that can be covered with foreign exchange reserves available with the central bank of the country. 
  • Eight to ten months of import cover is essential for the stability of a currency.

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