Diabytes
Foreign Exchange Reserve News
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Earlier, responding to concerns of members on the depreciating value of the Indian rupee, Minister of State for Finance Pankaj Chaudhary said the local currency has strengthened in the last few months while several other countries, including South Korea and the United Kingdom, had depreciated more.
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The forex reserves have been falling for months now.
Rising costs of imported items also necessitated the higher requirement of reserves for trade settlement.
Indian rupee is hitting all-time low records against greenback for the past several months.
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The CBI on Sunday carried out searches at 10 locations in Delhi and the National Capital Region (NCR) as part of its investigation into the alleged Rs.6,000 crore Bank of Baroda forex scam.
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