India forex buffer is still robust to defend rupee, say economists

India's foreign-exchange reserves are robust enough to defend the rupee against oil shocks, with reserves at $690 billion. Economists note that the Reserve Bank of India can utilize nearly $150 billion before reaching critical levels. Despite scrutiny as the rupee hits record lows, the situation is not as severe as during the 2013 taper tantrum. Prime Minister Modi's recent appeal to conserve reserves and increased import duties on gold highlight concerns over external finances. Overall, metrics indicate a comfortable position for India, with fiscal and external deficits under control.