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Forex reserves hit all-time high for 14th week in a row, add $43 billion in FY20

On a cumulative basis, forex reserves have risen by $43 billion until 20 December, 2019 compared to a fall of $12.5 billion during FY19. It had risen by $54.4 billion in FY18

 
 
Analysts called the amount excessive, particularly since the plaintiff, Nicholas Murray, had already won $680,000 in compensatory damages over his claims
Just last week Xiaomi scrapped an already delayed plan to offer equity in China, a move aimed at attracting mainland investors hungry to buy into global companies
A strengthening dollar against major currencies overseas and weak domestic equity market weighed on the local unit, forex traders said
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