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Sovereign Wealth Funds Briefing - Categorized | Reserve Currencies

India’s FE kitty down $0.76 bln

Posted on 02 July 2012

India’s foreign exchange reserves fell by $0.76 billion to $288.62 billion for the week ended June 22, official data showed. The RBI is believed to have been selling dollars during the week to curb the slide in the rupee’s value. Incidentally, the rupee gained strength on Friday, a gain of 2 per cent over Thursday’s close of Rs 56.81 to a dollar, at Rs 55.64.
Over the week, the partially convertible rupee slumped to an all-time low of 57.33 against the US dollar………………………………………..Full Article: Source


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