India’s foreign exchange reserves will help tide global spillovers, RBI says
Indias foreign exchange reserves have by all indications crossed $600 billion, central bank chief Shaktikanta Das said, a huge buffer that will help insulate Asias third-largest economy from global spillovers and volatile external flows.Earlier this year, the countrys foreign-exchange reserves briefly surpassed Russias to become the worlds fourth-largest, as the Reserve Bank of India continued to hoard dollars to cushion the economy against any sudden outflows. The reserves are enough to cover around…
