Explained: Forex reserves at all-time high — why did this happen, and what does it mean for India’s economy?
September 06, 2020 2:47 pm
The current situation stands in stark contrast to the one in 1991, when India had to pledge its gold reserves to stave off a major financial crisis. In March 1991, India had forex reserves of a mere $5.8 billion; today, the country can depend on its soaring foreign exchange reserves to tackle any crisis on the economic front.
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