India's Forex is the Fourth Largest in the World

[LETHALFORCE]

http://www.siliconindia.com/magazin...ourth_Largest_in_the_World-RQMX748277102.html

India has the fourth largest foreign exchange reserves and this has helped the nation to tide over global financial crisis, according to The Economic Survey. India's foreign exchange reserves touched $ 297.3 billion in December, 2010 from $279.1 billion in March. "It needs to be acknowledged that foreign exchange reserves have helped insulate India from the worst impact of the crisis," it said. In comparison to many western counterparts, India was less affected by the 2008-09 global financial crisis.

The foreign exchange reserves of Japan and Russia stands at $1.12 trillion and $479.4 billion, respectively, while the same of Indian neighbor China is at $2.45 trillion in June, 2010. According to the survey, the country's reserves mainly comprise portfolio investment (FII), which are more vulnerable to sudden stops and reversals and borrowings from abroad.

India's foreign exchange reserves have increased over the years from just $5.8 billion in March, 1991. "The reserves reached a peak at $314.6 billion at May-end, 2008 before declining to $252 billion at the end of March 2009.The decline in reserves in 2008-09 was inter alia fallout of the global crisis and strengthening of US dollar vis-a-vis other international currencies," the Survey said

 

[roma]

You never imagined that there are brokers who lure about huge benefits and finally cheat you.

man , you are soooo right about that ....they do it the smart way , though - they dont allow you to win bcos they are taking the other side of the trade , but they never tell you that ......

they never let you scalp which is one of the easiest ways to trade - especially on economic news announcements when new york opens trading

how do we know you are any better ? - you claim there are no inditements against your company - but you might have been operating in another company and closed that down ?

sorry - just asking is all that im doing here

currency trading really is not that difficult - IF YOU CAN THE TRADE WHAT YOU SEE - THE QUOTED PRICE

with other companies that shall remain unnamed whenever i am about to make a profit in closing the trade on a quick scalp - the message always comes back - "trade not executed as the price has moved" - then when the price moves against me , then they allow me to close the trade at a loss

the only time i made money ( big money , more than previous losses ) was when i dealt withe a company face to face ( or on the phone -with all conversations being recorded - in the same city not thousands miles away and you get passed from one person to another when you have a problem ) and they honoured the trade and documented it immediately without playing games !

its' time this industry was cleaned up - look at "forex peace army " eg: http://www.forexpeacearmy.com/public/forex_scams

another problem could be when you try to withdraw your profits - they can come up will all sorts of deductions to reduce your final take home

 

[Abhijeet Dey]

India should also try to increase its Foreign exchange reserves from billion dollars to trillion dollars. India should export more products than importing them from other countries. The problem is Indian politicians lack foresight and are poor in business management techniques.

 

[trackwhack]

India's for ex reserves have been stuck at 280-300 billion USD for almost a decade now. Disgraceful!

And with 6% CAD its looking hopeless. And now we are selling about 2 billion a week just to keep the rupee afloat.