India spending forex reserves at quicker pace than during taper tantrum

The Reserve Bank of India (RBI) is using up its foreign exchange reserves at a quicker pace than during the taper-tantrum period in 2013 as it tries to prevent an overshoot in the rupee, but a larger pool of reserves may allow it to support the currency for some more time, economists said. https://ift.tt/5wXyuCW