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India's forex reserves up by $1.1 billion

India's forex reserves up by $1.1 billion

Friday, March 31, 2017, 6:35 PM

India's foreign exchange reserves rose $1.1 billion to reach almost $368 billion for the week ended march 24, said the Reserve Bank of India on Friday. This is the second successive rise of the reserves with it having risen by more than $2 billion last week. According to market sources, the appreciation can be attributed to likely maturities in the forward market.
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