Indian foreign exchange reserve will not be hit: RBI

The declining value of Euro will not affect Indian foreign exchange reserve, as Euro is only a small component of forex, RBI Deputy Governor K C Chakrabarty said on Friday.

The declining value of Euro will not affect Indian foreign exchange reserve, as Euro is only a small component of forex, RBI Deputy Governor K C Chakrabarty said on Friday.

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"We are not much concerned. Dollar is strengthening against all currencies, including the rupee. So there is no concern at the moment," Chakrabarty told reporters on the sidelines of a function here, when asked if the Greek debt crisis affecting markets worldwide would also impact India.

"In terms of rupee, our reserves are going up. Our major reserves are always in dollars. How we are going to manage the currency is not an issue of public debate," he said.

On lendings to micro, small and medium enterprises sector in Kerala, Charabarty said he was not happy.