India's forex reserves at comfortable level due to RBI, dollar: Economists
India's foreign exchange reserves have risen to a 10-month high of $588.8 billion, due to the Reserve Bank of India's sustained efforts to rebuild the reserves and reduced volatility in revaluation changes. Economists say the RBI has bought more than $8bn in the spot market, and $20.4bn in the forward market, while forex reserves now cover 10.4 months of imports.
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