India's Foreign Exchange Reserves have gone up handsomely over the last decade, from a level of near bankcruptcy in 1990-91 to almost $270 bn billion today
1 Billion (Level of near bankruptcy in 1990-91)
In 1990 we have Forex crisis and had bledge gold to buy Forex from world bank.
$ 10 billion (projected) for 1999-2000, a nine fold increase in 8 years
From 2000 onwards our Forex has grown from $10 billion to $270 billion
India ranks as the world's 4th largest holder of foreign exchange, behind People's Republic of China, Japan, Russia, the report said.
Today it is proudly crossed the 270 billion mark.
To understand how much money you are talking about. USA president bush George bush was convincing the congress to allot $ 80 bn for the war in IRAQ for 8 months.
India's reserve growth, driven by a booming economy that began after the country liberalized its economy in 1991.
India's reserve growth, driven by a booming economy that began after the c
2007-11-16
22:39:08
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