India becomes world’s 4th-largest forex holder

Mumbai, Sep 12: India has become the fourth largest holder of foreign exchange reserves in the world after the record surge in dollar inflows triggered by the Reserve Bank of India’s (RBI’s) foreign currency non-resident (bank) (FCNR(B) deposits scheme, according to data. With the $44.9 billion increase in its forex kitty to a record $785.7 […]