US EditionIndia's foreign exchange reserves are adequate to cover 11 months of merchandise imports - India Seatrade News
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India's foreign exchange reserves are adequate to cover 11 months of merchandise imports - India Seatrade News
Reserve Bank of India (RBI) Governor Sanjay Malhotra on Wednesday said that India’s forex reserves were enough to cover 11 months of merchandise imports. India’s forex reserves fell over $9 billion to 688.9 as of August 1, Governor Sanjay Malhotra said during his Monetary Policy Committee meeting announcements. The fall was likely driven by the RBI’s dollar sales to support the rupee, which came under pressure after U.S. President Donald Trump i…
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