That swing has been made possible by a shift in forex management policy that was forged in the fire of the balance-of-payments crisis of 1991
From dwindling to just $1.2 billion in mid-1991 — barely enough to pay for a few weeks of essential imports — India’s foreign exchange (forex) reserves are at a record high today. The latest data released by the Reserve Bank of India (RBI) shows that the country’s forex reserves hit an all-time high of $729.3 billion as of week-ended August 21, 2026, comfortable to cover over 11 months of goods import and 94.0 per cent of the external debt outstanding as of March-end this year.....
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Via business-standard.com
