India home to $ 215 billion in foreign reserves

Yesterday, I wrote about the appreciating rupee and how it has adversely affected the Information Technology companies and also the Indians working abroad. However, Indian people are becoming rich and so is India itself.

Reserve Bank of India has just announced that India has approx. $215 billion in foreign reserves. That is nearly Rs. 9 lakh crores. This is mostly due to the rupee appreciation against the foreign currencies such as dollar, yen, Euro and Pounds.