Friday, June 21, 2013

RBI hamstrung by $290bn reserve

........But while the 60-level has been protected, markets are far from assured as RBI’s forex reserves of $290 billion are just enough to cover seven months of imports. Efforts by policy makers, economic advisor to the PMO Raghuram Rajan and Planning Commission chief Montek Singh Ahluwalia — to talk up the rupee also didn’t yield much results.............

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