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India's Foreign exchange reserves is likely to hit the $500  billion mark soon.                                 The increasing Foreign Exchange Reserves is a masterstroke to tackle any kind of crisis on the economic front. It is sufficient enough to cover import bill for a year. We are currently at a point where India's GDP is in the I.C.U, Manufacturing sector and trade is standstill but the Foreign Exchange Reserves are increasing rapidly and likely to hit the $500 billion mark very soon despite of raging Covid-19 Pandemic. In the month of May Forex reserves jumped by $12.4 billion to an all time high of $493.48 billion. What is Foreign Exchange Reserves or Forex Reserves? Foreign Exchange Reserves or Forex Reserves is Country's gold reserves, contributions made to the IMF and the FTP  and all the foreign currency assets, denominated in USD, held by the Reserve Bank Of India. However, over 90% of the reserves comprise of different foreign currencies, but denominated in U