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(From The Economic Times)
: The Reserve Bank of India's (RBI's) foreign exchange reserve policy has been commended by the International Monetary Fund (IMF) for its success in smoothening volatility in a thin market, transparency and management of returns.
The IMF has said that the Indian practices are comparable with the global best practices in this area.
In an accompanying document on the guidelines on foreign exchange reserves management, the International Monetary Fund notes that India's management of foreign exchange policy has generally been in accordance with International Monetary Fund guidelines with the strong emphasis on efficient …