<h1>India Hits Record $89 Billion in Foreign Remittances for 2021-22, Highest in Single Year History.</h1> India received a record $89,127 million in foreign inward remittances during the fiscal year 2021-22, marking the highest ever for a single year. This information was provided by a government official in response to a parliamentary query. Over the past five years, remittances have steadily increased from $69,129 million in 2017-18 to the current record. Major contributing countries include the United States, United Arab Emirates, and the United Kingdom. The Indian Rupee's value is determined by market conditions, with the central bank intervening only to manage excessive volatility.