Forex reserves near record high, cover over eight months of imports
Aug 04 2014 , Mumbai
Traders say RBI's intervention in the foreign exchange markets is the key reason for build up in reserves.
Current reserves cover a little over eight months of imports analysts say.
RBI bought a net $11.3 billion of up to one-year forwards in June, almost erasing its forward obligations.
It had bought $1.8 billion in the spot market in May, latest bulletin data showed.