Web Exclusive
At a time when India is facing stagflation, its forex reserves have helped avert a currency crisis, but there are unintended consequences of accumulating forex. Manojit Saha explains the risks
Topics
Forex reserves | Reserve Bank | Gross Domestic Product (GDP)
Manojit Saha |
Last Updated at June 18, 2021 09:31 IST
From a low of $275 billion in September 2013, when the country had a run on its currency, India’s foreign exchange reserves have more than doubled in the past eight years to $605 billion. Only three countries in the world have substantially higher forex reserves than India – China, Japan, Switzerland.
As on June 4, Russia’s and India’s reserves were at almost the same level; these could swing either way in the coming weeks and months. Between 2014 and 2020, while India’s forex reserves grew in all years but one (2018), the year 2020 saw the highest build-up of …
Key stories on business-standard.com are available to premium subscribers only.
Already a premium subscriber? LOGIN NOW
MONTHLY STAR
Business Standard Digital
MONTHLY STAR
Business Standard Digital
Business Standard Digital Monthly Subscription
Complete access to the premium product
Convenient – Pay as you go
Pay using Amex/Master/VISA Credit Cards and VISA Debit Cards Only
Auto renewed (subject to your card issuer’s permission)
Cancel any time in the future
Requires personal information
What you get?
ON BUSINESS STANDARD DIGITAL
- Unlimited access to all the content on any device through browser or app.
- Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
- Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
- Track the industry of your choice with a daily newsletter specific to that industry.
- Stay on top of your investments. Track stock prices in your portfolio.
- 18 years of archival data.
NOTE :
- The product is a monthly auto renewal product.
- Cancellation Policy: You can cancel any time in the future without assigning any reasons, but 48 hours prior to your card being charged for renewal.
We do not offer any refunds. - To cancel, communicate from your registered email id and send the email with the cancellation request to assist@bsmail.in. Include your contact number for speedy action.
Requests mailed to any other ID will not be acknowledged or actioned upon.
SMART ANNUAL
Business Standard Digital
Subscribe Now and get 12 months Free
SMART ANNUAL
Business Standard Digital
Subscribe Now and get 12 months Free
Business Standard Premium Digital – 12 Months + 12 Months Free
Subscribe for 12 months and get 12 months free.
Single Seamless Sign-up to Business Standard Digital
Convenient – Once a year payment
Pay using an instrument of your choice -all Credit and Debit Cards, Net Banking, Payment Wallets, and UPI
Exclusive Invite to select Business Standard events
What you get
ON BUSINESS STANDARD DIGITAL
- Unlimited access to all content on any device through browser or app.
- Exclusive content, features, opinions and comment – hand-picked by our editors, just for you.
- Pick 5 of your favourite companies. Get a daily email with all the news updates on them.
- Track the industry of your choice with a daily newsletter specific to that
industry. - Stay on top of your investments. Track stock prices in your portfolio.
NOTE :
- The monthly duration product is an auto renewal based product. Once subscribed, subject to your card issuer’s permission we will charge your card/ payment instrument each month automatically and renew your subscription.
- In the Annual duration product we offer both an auto renewal based product and a non auto renewal based product.
- We do not Refund.
- No Questions asked Cancellation Policy.
- You can cancel future renewals anytime including immediately upon subscribing but 48 hours before your next renewal date.
- Subject to the above, self cancel by visiting the “Manage My Account“ section after signing in OR Send an email request to assist@bsmail.in from your registered email address and by quoting your mobile number.
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
First Published: Fri, June 18 2021. 09:21 IST
/cloudfront-us-east-2.images.arcpublishing.com/reuters/XNB2F6Q3EJLHJO5C6GUK6ZMJYU.jpg)
