 "Shaktikanta Das")
At a time when the unhedged exposure of Indian companies to overseas borrowing has stoked concerns about a depreciating rupee, Reserve Bank of India (RBI) Governor Shaktikanta Das has said a predominant part of the outstanding external commercial borrowings (ECBs) has been effectively hedged.
“It is necessary to look at the so-called unhedged forex reserves in their proper context instead of getting carried away...by what is revealed on the surface,” Das said at an event in Mumbai on Friday. “We have no particular level of the rupee in mind, but we would like to ensure its orderly evolution and we have
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