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4 reasons why India’s growing forex heap may be a problem Top Searches 4 reasons why India’s growing forex heap may be a problem Ajit Ranade / TNN / Updated: Jun 15, 2021, 09:04 IST FacebookTwitterLinkedinEMail NEW DELHI: India’s foreign exchange stock has touched $600 billion – fourth highest in the world, ahead of Russia. That heap of dollars gives us macroeconomic stability. We now have enough to pay for 18 months of imports, whereas back in the crisis year of 1991 we didn’t have enough forex for two weeks. At the very least we need foreign exchange to pay for importing crude oi...
Source: indiatimes.com