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forex reserves slip below $400-bn mark for first time in over a year: rbi

forex reserves slip below $400-bn mark for first time in over a year: rbi Article News With Simple Text and Web Resource Link. For View Full Content Click on Source Link on Then Bottom Of News.



forex reserves slip below $400-bn mark for first time in over a year: rbi

the country's forex reserves declined by $819.5 million to $399.282 billion for the week to september 7 -- slipping below the $400-billion mark for the first time in over a year, reserve bank data showed friday. this is the second consecutive week of major fall in the reserves which indicates that the central bank has been selling the greenback to fight the fall in rupee, which had crossed the 73-mark earlier this week. the local unit closed at 71.84 friday. the total reserves had dropped by $1.191 billion to $400.101 billion in the previous reporting week. in the week to september 7, foreign currency asset...