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Forex reserves fall $4.5 billion in two weeks

by Akshat Mathur 16 Dec 2021

India's foreign exchange reserves fell $ 1.783 billion for the week ending December 3, the second straight decline as foreign investors remained in the portfolio as net traders on the stock market.

Weekly data from Bank of India shows total reserves total $ 636.9055 billion. In the past two weeks, reserves have plummeted by $ 4.5 billion.

The devaluation of the national currency against the most important world currencies also had an impact on the reserves.

In foreign currencies, assets, changes in the assessment of stores held by other global currencies such as Euro and Sterling and Japan, which dropped $ 1,483 billion to $ 573.18 billion. Rupees were against the US dollar against the US dollar on Friday and closed $ 75.77 against $ 75.52 on Thursday. This is the third way of falling weekly to rupees in betting that can buy higher American inflation for faster purchases and increase interest rates.

The Rupee fell 0.8 percent this week, adding 1.3 percent over the past two weeks. According to NSDL information, foreign securities have a stock value of 17484 Crore in December. Britain Vijayakumar, the main strategy of investing in financial services Jiujit, said that this is higher than the net rupees 33799 Crore for sale in November, and this is not ready

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