Mumbai:  Falling for the fourth week in a row, India’s foreign exchange reserves went down by USD 1.415 billion to USD 314.181 billion in the week to September 26 on account of a hefty drop in non-US currency assets.  In the previous week, the reserves had fallen by USD 101.3 million to USD 315.596 billion.

During the week to July 25, the reserves had touched USD 320.56 billion, a shade away from the life-time high of USD 320.79 billion recorded on September 2, 2011. Reserve Bank Governor Raghuram Rajan described the fall in reserves as dip in valuation with appreciation of dollar against other currencies.

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