Biggest Forex Buyer in Emerging Asia Builds on Record Buffer

(Bloomberg) -- The Reserve Bank of India has bought the most dollars among its Asian peers recently, a sign that the central bank may be worried about a sovereign credit downgrade, according to Australia & New Zealand Banking Group Ltd.It purchased $30 billion of foreign exchange in the four months to July to bolster what is already the world’s fifth-largest FX hoard, according to estimates by Khoon Goh. That accounts for more than half of Asia ex-China’s $55 billion intervention