Foreign Reserves

Global Forex Reserves See A Record Decline Of $1 Trillion

Global Forex Reserves See A Record Decline Of $1 Trillion

Global foreign-currency reserves are declining rapidly as the central banks of India and the Czech Republic step in to support their currencies. This year reserves have fallen by around 7.8% ($1 trillion). It is the biggest decline since Bloomberg began gathering data.  Valuation changes have contributed significantly to this downturn. The dollar’s rise to two-decade…