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Saturday, 20 October 2018

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Foreign Exchange Reserves declined by $ 5.143

Foreign Exchange Reserves declined by $ 5.143



During Reserve Bank's efforts to stop the huge volatility in rupee exchange rate,the foreign exchange reserves declined by $ 5.143 billion standing at $ 394.465 billion at the week ending on October 12.

This is the biggest drop in recent weeks. The currency reserves decreased from $ 91.58 million to $ 399.609 billion last week.The central bank has put $ 40 billion in the current financial year to stop the rupee fall. Rupee has dropped 16 percent since January and it has touched 74.43 last week. The rupee closed at 73.32 on Friday.

Foreign exchange reserves reached $ 426.028 billion in the week ending on April 13, 2018. Since then, there has been a deficit of $ 31 billion. Gold reserves rose from $ 7.14 million to $ 20.52 billion.

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