India overtakes Russia to become 4th-largest forex holder globally

India has overtaken Russia to rank fourth among countries with the highest foreign exchange reserves after its reserves rose by $45 billion in week ended September 4, the highest weekly gain ever. India’s forex reserves stood at $785.71 billion, compared with Russia’s $753.5 billion. China and Japan ranked first and second, with reserves of $3.85 trillion and $1.21 trillion, respectively.