INSUBCONTINENT EXCLUSIVE:
Forex reserves slip below $400-billion mark for the first time in over a year.MUMBAI: 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
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
rights with the International Monetary Fund dipped by $1.5 million to $1.476 billion
The country's reserve position with the Fund also decreased by $2.5 million to $2.474 billion, the apex bank said.(Except for the headline,
this story has not been edited by TheIndianSubcontinent staff and is published from a syndicated feed.)
