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Investments: Forex reserves may fall by $39 bn: Goldman |
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According to a report by global banker Goldman Sachs, decline in capital inflows as a result of ongoing global financial turmoil may see India's foreign exchange reserves depleting by USD 39 billion during 2008-09. The forex reserves which were around USD 310 billion in March 2008, have been declining steadily and may go down to USD 271 by the close of current financial years, the report said.
The decline would mainly be on account of rising current account deficit, it said, adding "capital ...
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