RBI sticks to forex reserves policy in India
New Delhi - Arabstoday
India’s central bank will continue with its strategy of diversifying its forex reserves, a central banker said on Friday, adding, investors may not find it easy to move away from US debt investments.Lingering concerns about the health of the US economy and the fate of the dollar, the world’s premier reserve currency, is making economies across the world to diversify their forex reserves and pare their US debt holdings.“Yes we diversify always. That is a strategy that remains,” K.C. Chakrabarty, a deputy governor at the Reserve Bank of India (RBI) said. The global economic situation was becoming more complex and volatile, he added. From / Gulf Today
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