(Bloomberg) — India’s central bank kept amassing dollars all through 2019, ending the year with Asia’s biggest jump in foreign-exchange reserves. That may come in handy now.Authorities may deploy some of the stockpile to steady the rupee, which has tumbled more than 2% over the past week as more locals are diagnosed with the coronavirus. The currency is the worst performer in Asia this month after having escaped relatively unscathed in February when most regional peers were hit by the contagion.“The RBI has big firepower at its disposal in the form of FX reserves and can easily arrest the rupee’s …read more
Source:: Yahoo Finance
