INDIA - 4TH LARGEST FOREIGN CURRENCY HOLDER

According to the Taiwan's central bank, India ranks fourth among the global economic powers in holding the foreign currencies. In its press release, Taiwan's central bank said that Taiwan has been replaced by India as the fourth largest foreign currency holder.

The foreign currency reserves of the global powers at the end of January 2008 are:

1. China - $1.5 trillion
2. Japan - $948 billion
3. Russia - $479.4 billion
4. India - $279.5 billion
5. Taiwan - $272.8 billion
6. South Korea - $261.8 billion
7. Singapore - $163.6 billion
8. Brazil- $163.5 billion
9. Hong Kong - $146.9 billion