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India's reserves stand out among the Brics

Its foreign currency stockpile is up 14% from a year ago, while those in Brazil, Russia, China have fallen

LIMITED OPTION: With global reserves down 3 per cent over the past year, Mr Rajan had little choice but to build up India's reserves.


TWO years on from the emerging-market squall that offered a demonstration of what might happen when the US Federal Reserve finally raises interest rates, there's one Bric member that stands out for preparing for the storm.

India central bank governor Raghuram Rajan has