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Forex reserves jump $75 bn since lockdown Foreign currency assets expanded by $5.73 billion to $508.7 billion in the week ended October 9, as per RBI data.
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Forex bureaus profit is made by selling a currency at a higher price as compared to the buying price of the same currency and commissions charged per transaction. The rates of exchange at the Forex bureaus are entirely related to spot prices obtainable for large inter-bank transactions and are adjustable to ensure profit is attained.
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