Indian needs foreign exchange reserves buffer to tackle exchange rate volatility: Raghuram Rajan

"We need this (foreign exchange) reserve buffer to insulate ourselves because we have no friends. Even the European Union (EU) went to get swap lines from the Federal Reserve. We asked for swap lines, that is on public record, we did not get them. Only country who helped us during the taper tantrum was Japan," Rajan said.

from News-Economic Times https://ift.tt/3r7eAIc