India Clocks World's 4th Largest FOREX Reserve; Surpasses Russia

After what seemed like a stagnant foreign exchange reserve for India and Russia, India's foreign exchange reserve rose to the world's fourth-largest leaving Russia behind in recent weeks. Reportedly, rising inflows into the local stock market and foreign direct investments have made India’s reserves enough for almost 18 months of imports. While China holds the largest reserves, it is followed by Japan and Switzerland.