Forex Reserves of India tumble, looses 1.74 Billion Dollar

Published: June 3, 2012

  • India’s Foreign exchange reserve plunged by $1.74 billion to $290 billion
  • The RBI data showed a sharp fall in the India’s Forex reserves
  • The Forex reserves has slipped by 1.80 billion dollar, 1.37 billion dollar and 2.18 billion dollar, respectively, in the last 3 weeks
  • The drop in forex reserve mainly attributed to sale of dollar by the RBI to rescue continuously falling rupee.
  • The Indian rupee marked a record low in recent weeks and stood at 55.54 against the dollar on June 1, 2012

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