No forex reserves large enough to ward off external shocks: Rajan

Reserve Bank of India Governor Raghuram Rajan has said that though the country has enough foreign exchange reserves, no nation can fully insulate itself from external vulnerabilities.

"We are well-buffered with substantial reserves, though no country can be decoupled from the international system," Rajan said at a conference organised by the Brookings Institution in Washington yesterday.

In the just-concluded financial year, the country's forex reserves crossed the $300 billion-mark, the highest since December 2011.

For the week to March 28, the reserves rose by a whopping $5.038 billion to $303.673 billion, the second highest in the fiscal.