India’s Forex Reserves Top $400 billion for the First Time
September 16th, 2017
According to the RBI Data, India’s foreign-exchange reserves rose past $400 billion for the first time ever, strengthening policy makers’ buffers ahead of an expected reduction in US stimulus. The stockpile stood at $400.7 billion. With the Federal Reserve set to shrink its balance sheet-details of which could be announced recently, the holdings may help the rupee withstand any volatility even if global funds turn away from India’s slowing economy.