Short-term dollar pressures should not distract India from the need to diversify its forex holdings
· livemint.com
Even the central banks of US allies are diversifying away from the dollar. Notably, US debt is no longer risk free. In an extreme global crisis, a diversified reserve base would serve India well. And risk mitigation isn’t de-dollarization.
Is there a twist in India’s foreign exchange diversification tale? An International Monetary Fund (IMF) paper in 2022 identified India as among the major coun...