The RBI Governor, Shaktikanta Das, addressed the nation on Wednesday, detailing India’s current account deficit as manageable and outlining the central bank’s strategy to mitigate risks by boosting forex reserves. The Indian rupee recently hit a record low against the dollar but demonstrated resilience, settling at 83.34 today.
The growth in India’s forex reserves is attributed to several factors:
These developments come amidst fluctuations in the rupee-dollar exchange rate dynamics, with the Indian currency showing signs of stability despite recent pressures. The RBI’s proactive measures appear to be supporting the rupee and providing a buffer against global financial volatility.
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