India FX Reserves Cross Russia to Become World’s 4th Biggest
- Forex reserves are enough to cover 18 months of imports
- RBI has been intervening to build a buffer against outflows
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India’s foreign-exchange reserves surpassed Russia’s to become the world’s fourth largest, as the South Asian nation’s central bank continues to hoard dollars to cushion the economy against any sudden outflows.
Reserves for both countries have mostly flattened out this year after months of rapid increase. India pulled ahead as Russian holdings declined at a faster rate in recent weeks.