India’s Forex Reserves stand at $214.835 billion
Mumbai :If one has to go by the amount of the foreign exchange reserves of a country, India is truly rising.
India’s foreign exchange reserves rose to a record USD 214.835 billion on July 6, 2007 from USD 213.486 billion a week earlier, the Reserve Bank of India said in its weekly statistical supplement on Friday.
In March 2004, India’s foreign exchange reserves stood at $107 billion, half of the amount today.
So, what our policymakers are trying to do with this embarrassment of riches? Why not use for uplifting the poor?
Source: Reserve Bank of India | Indian Express
Posted: July 14th, 2007 under Useful info..
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