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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

India’s forex reserves shrink the most since 2008

Posted on 28 November 2011

India’s foreign exchange reserves have had the steepest three-week fall since the collapse of Lehman Brothers Holdings in 2008, as the Reserve Bank of India wages a half-hearted battle to arrest the currency’s fall amid turbulence in the international financial markets.

Adecline in the value of other assets, such as the Euro and treasury of other nations, also had an impact on the reserves, as investors’ most-favoured asset remained the US dollar. Funding of high imports may also have contributed to the fall in foreign exchange reserves, economists said………………………………………Full Article: Source


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