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Guess what? Forex reserve will swell by $30 bn even if half of black money is returned

Oct 29, 2014    

New Delhi - The unearthing of capital flight of "black" money Indians have allegedly stashed away in Swiss banks could add $30 billion to the country's forex reserves, says a Bank of America Merrill Lynch report.According to the global financial services major, though there would not be any immediate forex impact given the legal issues involved, it could add $30-35 billion to the forex reserves over time.BofA-ML has worked with an estimate of capital flight of about $200 billion based on a recent research study.According to the study, Raghbendra Jha and Duc Nguyen Truong, of Australi...

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