New Delhi, March 31 -- A SBI Research report has suggested that the Reserve Bank of India (RBI) may consider utilising foreign exchange reserves to stabilise the rupee amid heightened volatility triggered by the ongoing West Asia crisis.

The recommendation comes after the rupee breached the 95 per US dollar mark during intra-day trade on Monday before settling at 94.78 (provisional), reflecting increased pressure due to global risk aversion and geopolitical tensions.

Adequate Reserves Provide Cushion

According to SBI research report, India's foreign exchange reserves, estimated at over USD 700 billion, remain adequate, covering more than 10 months of imports.

The report noted that such reserve levels are 'significantly comfortable' an...