Fitch Ratings: Ratings agency confident, Indian economy able to deal with external shocks

Even though India's forex reserves have declined in the last few months and the rupee has broken to a record low against the dollar, the country has been able to deal with any external shock. This is believed by the rating agency Fitch. Fitch has also issued a warning to the US praising the Indian economy.

Fitch Ratings said in a report released on Wednesday that India is prepared to deal with the US's strict monetary policies and rising inflation rate globally and has enough foreign exchange reserves to deal with any kind of risk. According to Fitch, the risk to India's credit due to global pressures is very limited.

Let us tell you that after ten weeks of continuous decline in India's foreign exchange reserves, there was an increase in the week ending October 7. During this period, there was an increase of $ 20.4 million in foreign exchange reserves and it had increased to the level of $ 532.868 billion.

Also Read: The rupee closes above 83 against the dollar for the first time, today fell by 61 paise