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India's Forex Reserves Top $200 Billion |
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India's foreign exchange reserves topped $200 billion at the end of April, according to the Reserve Bank, which is a 200-time growth since 1990, when they were barely $1 billion. The principal source of these reserves are from capital inflows and foreign remittances.
India has the world's sixth largest currency reserves after China ($1.2 trillion), Japan ($909 billion), Russia ($338 billion), Taiwan ($267 billion) and Korea ($243 billion). | |
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Sonam
Tue Mar 17, 2009
Forex India
India will take a cue from China, if it has to compete with China in exports. Reserve Bank of India cannot keep buying dollar and artificially inflate USD/INR for long.
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