India’s foreign exchange reserves fell by $6.498 billion to $288.811 billion from $295.309 billion. It is primarily due to fall in foreign currency assets (expressed in US dollar terms) which includes the effect of appreciation or depreciation of non US currencies such as Euro, Sterling and Yen held in reserves.It calls for a proactive thinking given the protracted evidence of economic woes afflicting Europe and America which are spreading eastwards.
Source: The Statesman
Richa Shukla
Globsyn Business School
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