The record high forex reserves of USD 516 billion, of which USD 81 billion added since governor Shaktikanta Das has assumed office, will help greater foreign fund inflows and lower the cost of overseas funds for corporates, says a report. Governor Das’ efforts since assuming office in December 2018, resemble those of the Bimal Jalan-YV Reddy era a decade ago when the reserves touched for the first time to adequately cover imports, and the reserves at over USD 516 billion are sufficient to buffer the economy against any contagion, Bank of America said in a report on Tuesday.The present forex reserves are sufficient to cover 14.9 months of imports, which are around 20 per cent of GDP, said the report, adding pre-Covid, the import cover was 11.4 months.