World currency reserves shrink by $1 trillion in record drawdown

India’s stockpile, for example, has tumbled $96 billion this year to $538 billion. The country’s central bank said asset valuation changes account for 67% of the decline in reserves during the fiscal year from April, implying the rest came from intervention to prop up the currency.

from Economy-News-Economic Times https://ift.tt/KYWd4gq
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