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RBI Report Highlights India’s Forex Reserves Cover at 11.2 Months of Imports The Reserve Bank of India (RBI) released a detailed report on October 24, 2024 , presenting an overview of India’s foreign exchange reserves  and the country’s International Investment Position (IIP) . The report provides insights into India's economic resilience against external shocks and highlights changes in reserves and liabilities as of June 2024 . India’s Forex Reserves Import Cover Declines Slightly According to the RBI report, as of June 2024 , India's foreign exchange reserves cover stands at 11.2 months  of imports (balance of payments basis), down from 11.3 months  at the end of March 2024 . This decline, although minor, reflects a slight reduction in the buffer against external economic volatility. The import cover is a crucial indicator of the country’s financial health, as it denotes how many months of imports can be supported by the current forex reserves, demonstrating India's ...