Where Are India’s International Reserves Invested?
Published By: eSS, Mumbai, India | Published Date: January, 25 , 2010Most standard indicators suggest that India’s reserve stock is more than adequate. The rapid stockpiling of foreign exchange reserves implies that the RBI has been leaning-against-the-wind to keep down the value of the Indian Rupee. As India has become more export-oriented it has become keenly aware of the need to remain price competitive in the short run, This situation dictates that there may be potential benefits from pursuing a more coordinated approach to dealing with monetary and exchange rate policies in the region. [This is an abbreviated version of a working paper by the authors (see Rajan and Gopalan, 2010).]
Author(s): Ramkishen S. Rajan, Sasidaran Gopalan | Posted on: Jan 25, 2010 | Views(2688) | Download (1091)