India has fifth largest forex reserves

Reserve Bank of India announced on Friday 26, 2007 that the foreign exchange reserve has increased by $ 4.5 billion in the last week taking the total exchange reserve to $ 261 billion surpassing South Korea. Which had $257 billion as of September end of this year. Among the BRIC countries Brazil has the lowest foreign exchange reserve of $164 billion. China leads in foreign exchange reserve with a sum of $ 1434 billion followed by Japan ($946 billion), Russia ($440 billion), Taiwan ($263 billion) and India ($261 billion). India has seen a dollar inflow in recent past , especially after the subprime crisis and it is estimated it will soon surpass Taiwan.