Market News
India's central bank to judiciously handle FX reserves amid headwinds, sources say - REUTERS
By Jaspreet Kalra, Siddhi Nayak and Nimesh Vora
MUMBAI, Jan 14 (Reuters) - India's central bank will be more judicious in its use of foreign exchange reserves to mitigate domestic currency market volatility amid strong global headwinds, three sources aware of the development said.
The Reserve Bank of India will continue to intervene as and when necessary to smoothen volatility, but won't go against the tide and massively intervene to protect any levels, the sources said, asking not to be named as the discussions are confidential.
