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Business EconomyPosted at: Jul 28 2015 10:36PM


India's forex reserves can cover 8 months’ import

New Delhi, Jul 28 (UNI) India has built foreign exchange reserves of 341.64 billion dollar at the end of March, 2015, enough to provide import cover of 8.9 months. The situation, as enumerated in the latest RBI report on foreign exchange, has improved from the previous assessment in September ,2014 which had shown the import cover of 8.1 months. There has been further improvement in foreign exchange reserves which touched 353 billion dollar as on July 17,2015. The ratio of short-term debt 2 to the foreign exchange reserves, which was 27.7 per cent at end-September 2014, declined to 24.8 per cent at end-March 2015. The ratio of volatile capital flows (defined to include cumulative portfolio inflows and short-term debt) to the reserves has declined from 94.3 per cent as at end-September 2014 to 91.7 per cent as at end-March 2015. The foreign exchange reserves stood at 313.84 billion dollar as at end-September 2014. During the half year under review, reserves increased to 315.91 dollar as at end-October 2014 and marginally declined to 315.56 billion dollar as at end-November 2014. It increased to 320.65 billion dollar as at end-December 2014 and further to 341.64 billion dollar as at end-March 2015, the RBI report pointed out. UNI PC SHS AJ 2236
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