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RBI deploys US$2.8b in reserves to strengthen rupee defence
Published Mon, Jan 18, 2016 · 09:50 PM
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Mumbai
INDIAN central bank governor Raghuram Rajan oversaw the biggest jump in currency reserves among major developing nations and he is not afraid to use them to help the rupee.
In a sign of intervention, the holdings fell US$2.8 billion in the two weeks ended Jan 8 to US$326.4 billion. Mr Rajan may spend up to U…
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