Forex reserves top $700 bn, hit 9-month high

INDIA'S FOREIGN EXCHANGE reserves topped $700 billion last week to hit a 9-month high, which, alongside the central bank's shrinking forward book, cements the rupee's defences at a time when US trade policy uncertainty looms, analysts said.

- Nimesh Vora & Jaspreet Kalra

Economists assess the Reserve Bank of India's (RBI) capacity to intervene in the foreign exchange market by evaluating its foreign exchange reserves and forward book positions, both of which are on a healthy trajectory.