Benaulim, Aug 16: India will prepay $1.5 billion of external debt soon, a senior official of the Reserve Bank of India (RBI) said on Saturday.
"Another $1.5 billion to be pre-paid, is in the pipeline and it will happen soon," said T.C.Nair, chief general manager of RBI, speaking at a forex seminar. Nair also said there was no target for foreign exchange reserves, although it was a conscious policy to accumulate it.
Asia's third-largest economy's reserves are at $84.7 billion, just off the record of $84.904 billion