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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

India’s forex reserves slump by $5.72 bln

Posted on 14 November 2011

India’s foreign exchange reserves dropped by USD 5.72 billion to USD 314.66 billion for the week ended Nov 4 due to decline in the value of gold reserves and foreign currency assets, official data showed.
The forex reserves kitty has declined for the first time in the last five weeks under review. Foreign currency assets, the biggest component of the forex reserves kitty, declined by USD 3.87 billion to USD 280.57 billion for the week ended Nov 4, according to the weekly statistical supplement of the Reserve Bank of India (RBI)………………………………………..Full Article: Source


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