RBI Governor Shaktikanta Das Friday said the country’s foreign exchange reserves, which once again crossed the $600 billion market on December 1, will provide a cushion against any external shock. He said the current account deficit (CAD) is expected to be modest and comfortably financed. A look at what he said on a range of issues:
On forex reserves
“India’s foreign exchange reserves stood at US$ 604 billion as of December 1, 2023. Foreign exchange reserves at $604 billion provide a strong buffer against global spillovers. We remain confident of meeting our external financing requirements comfortably.”
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