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