India FX Reserves cross $500 billion | Saugata Bhattacharya to ET NOW
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The currencies and dollar vs rupee row are certainly intensifying. Banks are getting very cautious when it comes to credit costs. FDI has led up to $25 billion Forex mop up. A strong reserve is a buffer against market vitality. Rating Agencies, however, have praised India’s strong external accounts. The Forex reserves are enough to cover ~ 13 months of import cover. The INR at 3 months was high last week. Gains in equities weak dollars and aids rupee. India FX reserves are over $500 Billion which is the fifth-largest in the world. ‘Certain discomfort in allowing the rupee to accelerate beyond a point’ says Saugata Bhattacharya, Chief Economist of Axis Bank. Listen in! Subscribe To ET Now For Latest Updates On Stocks, Business, Trading | ► https://goo.gl/SEjvK3 Subscribe Now To Our Network Channels :- Times Now : http://goo.gl/U9ibPb The NewsHour Debate : http://goo.gl/LfNgFF To Stay Updated Download the Times Now App :- Android Google Play : https://goo.gl/zJhWjC Apple App Store : https://goo.gl/d7QBQZ Social Media Links :- Twitter - http://goo.gl/hA0vDt Facebook - http://goo.gl/5Lr4mC G+ - http://goo.gl/hYxrmj Website - www.etnownews.com
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