The Bank has been closely monitoring how the development of the situation in Iraq would affect the economy, especially through the stock and foreign exchange markets, and provided a large amount of additional liquidity to ensure financial market stability with the approach of the fiscal year-end.
India’s external debt has increased from $ 446.0 billion as at end-March 2014 to $ 483.2 billion as at September-end 2015. Foreign exchange reserves provide 72.5 per cent cover to external debt though vis-à-vis some of its EM peers, India is better placed as can be seen in Table 2 below:  1  Economic Survey 2016 -p 9–10, chapter 1: http://indiabudget.nic.in/es2015–16/echapvol1-01.pdf.