RBI can spend $30 billion of forex reserves to defend rupee: Report

The Reserve Bank of India (RBI) can spend up to $30 billion from its forex reserves to defend the rupee, according to Deutsche Bank. This would still leave India with enough reserves to cover imports for ten months. The rupee is currently close to its all-time high against the US dollar, and the RBI has been actively intervening in the forex market to manage volatility. https://ift.tt/ig21uW3