Q.3 The Reserve Bank of India (RBI) continues to remain the net purchaser of the U.S. currency after it bought $1.259 billion in September from the spot market. In line with the exchange business, discuss the impact of the intervention and RBI’S role as a custodian of the Indian Foreign exchange market. (GS-3)

Q.3 The Reserve Bank of India (RBI) continues to remain the net purchaser of the U.S. currency after it bought $1.259 billion in September from the spot market. In line with the exchange business, discuss the impact of the intervention and RBI’S role as a custodian of the Indian Foreign exchange market. (GS-3)

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