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India’s Foreign Exchange Reserves : Fourth Largest

India’s Foreign Exchange Reserves:

India’s foreign exchange reserves now world’s fourth-largest:

  • India’s foreign exchange reserves surpass Russia’s to become the world’s fourth-largest.
  • India’s reserves, enough to cover roughly 18 months of imports, have been bolstered by a rare current-account surplus, rising inflows into the local stock market, and foreign direct investment.
  • India’s foreign currency holdings fell by $4.3 billion to $580.3 billion as of March 5.
  • China has the largest reserves, followed by Japan and Switzerland on the International Monetary Fund table