Wednesday, October 3, 2012

RBI may use rupee rise to beef up its forex reserves

Appreciating rupee will be an opportunity for the Reserve Bank of India (RBI) to beef up its foreign exchange reserves. After May 2008, India’s foreign exchange reserves have not crossed $300 billion and reserves are not more than 7-8 months of India’s imports, down from the total equivalent to 12-months’ imports........

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