Fragile Five

Business

India Climbs to 4th Place in Global Foreign Exchange Reserves, Surpassing $704 Billion

India has secured its position as one of the world’s largest holders of foreign exchange reserves, now ranking fourth globally, following China, Japan, and Switzerland. According to data from the Reserve Bank of India (RBI), the country’s foreign exchange reserves rose by USD 12.588 billion in just one week, reaching a record high of USD 704.885 billion as of September…