India Becomes World’s Fourth Largest Holder Of Foreign Exchange
New Delhi: With the concessional swap window of the Reserve Bank of India (RBI) resulting in strong dollar inflows, particularly under the Foreign Currency Non-Resident (Bank) – or FCNR (B) – deposits scheme, India’s foreign exchange reserves surged to a record USD 785.7 billion in the week ending September 4. These measures also helped India … Read more