How crude is losing ground as the biggest strain on India’s forex reserves


How crude is losing ground as the biggest strain on India’s forex reserves

With crude prices soaring in global markets after the drone attacks on Saudi Aramco’s Abqaiq refinery, the world’s largest oil processing facility, questions have once again emerged on how prepared India is to face the consequential pressure on its forex reserves. Basically, has the nature of imports created bigger challenges for the Indian economy than the foreign exchange crisis of 2013-14, or have these challenges diminished? The bar chart below is quite illustrative in this respect. Read More

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