Dr Reddy is thankful to Dr R K Pattnaik for his assistance *  *  *  Mr. Chairman and friends, I am thankful to the National Council of Applied Economic Research, (NCAER) and in particular, to Dr. Suman Bery, for giving me this opportunity to make a presentation on the foreign exchange reserves.
The interdependence and counterparty risks in the financial sector are still being regarded in the Outlook as the greatest threat to financial stability.