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India’s foreign exchange reserves top $400 billion

Mon, Sep 18 2017, 11:03 AM

India’s foreign exchange reserves crossed $400 billion for the first time ever. According to data released by the Reserve Bank of India, as of 8 September, they stood at $400.7 billion. In 1990-91, the year in which India embarked on a sustained process of economic liberalization, foreign exchange reserves stood at $5.8 billion. They crossed $300 billion in 2007-08.