Forex Reserve At Healthy USD 682 Bn, Adequate To Provide Import Cover For 11 Months: RBI Guv

Reserve Bank Governor Sanjay Malhotra on Friday said the forex reserve stood at a healthy USD 682.3 billion, adequate to provide import cover for about 11 months. Various policy initiatives are expected to strengthen the balance of payments, he said while announcing the second bi-monthly monetary policy for the current fiscal.The initiatives include the recent agreements with major trading partners, allowing 100 per cent FDI in the insurance sector, ethanol blending programme, push for energy...