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Forex reserves hit all-time high of $704.89 billion
The Morning Standard
|October 05, 2024
THE country's forex reserves hit all-time high of $704.89 billion, up a whopping $12.5 billion in the week to September 27, the Reserve Bank said on Friday, something that can assuage a fraught market following the heightened tension in the Middle East.
With this, the RBI has amassed a whopping $113 billion to the reserves in the 12 months period ending September 27. The $12.5 billion accretion is the largest weekly addition so far. In comparison, this is nearly three times the GDP of Pakistan and makes it the world's fourth largest.
This story is from the October 05, 2024 edition of The Morning Standard.
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