India Not a Forex Strategist says Raghuram Rajan

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  • India has built up Forex Reserve of US $400 Billion and the reserve are increasing.
  • India is building these reserves to keep the economy protected with the contingencies.
  • India’s Current Account is with negative balance and may further deteriorate due to high oil prices, so Forex Reserves is required to be kept.
  • India is on the Watch List of US Treasury for India’s Economic Policies and surge of Forex Reserves.
  • Former Governor of Reserve Bank of India Mr. Raghuram Rajan, who is presently a Professor at the University of Chicago has told that keeping on the watch list is not fair.
  • India needs to protect against the forex outflows.
  • Now India has been able to maintain exchange rate value and is quite sound, hale and hearty.

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