 "RBI")
Commerce Secretary Anup Wadhawan on Tuesday said the United States’ move to keep India on its currency manipulator watchlist is an intrusion into the policy space of the Reserve Bank of India (RBI).
“I personally don’t understand its rationale or economic logic,” he said.
“It is the mandate of the central bank to provide stability in the currency, as a result of which central banks buy and sell foreign currency. Our overall reserves have been fairly steady at $500-600 billion. We are not accumulating reserves. We have a steady pattern of reserves that fluctuates, based on market based
“I personally don’t understand its rationale or economic logic,” he said.
“It is the mandate of the central bank to provide stability in the currency, as a result of which central banks buy and sell foreign currency. Our overall reserves have been fairly steady at $500-600 billion. We are not accumulating reserves. We have a steady pattern of reserves that fluctuates, based on market based
