Tuesday, July 22, 2008

India's foreign exchange reserves amount to USD 308.520bn

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India's foreign exchange reserves amount to USD 308.520bn. According to news agency Reuters, figures of the Reserve Bank of India (RBI) show that India's foreign exchange reserves increased to USD 308.520bn as on July 11 from USD 308.397bn a week earlier. The figures include India's reserve tranche position in the International Monetary Fund. The reserves touched a record USD 316.171bn in late May but have been declining owing to the sale of Dollar by the RBI in an attempt to prevent a rapid depreciation of the Rupee.

Bank deleveraging has barely started

Cash management poll 2008:

India's foreign exchange reserves amount to USD 308.520bn

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