85 breached
The Indian rupee has breached the significant psychological barrier of 85 against the US dollar, marking an all-time low amid a confluence of domestic and global pressures.
The Central government had Rs 4.02 million outstanding loans with the Reserve Bank of India under ways and means advances in the week ended Oct. 11, a weekly statistical supplement of Reserve Bank of India (RBI) report stated on Friday.
The government had an outstanding loan of Rs 46,529 crore in the week earlier.
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According to the release, the state governments had loans worth Rs 5,179 crore from the RBI in the week ended October 11, compared with Rs 7,886 crore in the previous week.
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The country’s foreign exchange reserves have depleted to $407.88 billion as of October 11, as against $437.83 billion in the week ending October 4. The foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and the yen held in the foreign exchange reserves.
(With input from agencies)
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