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Foreign-exchange reserves (also called Forex. held by national central banks and monetary authorities (See List of countries by foreign-exchange reserves.One of the earliest banks in South India,South indian bank came into being during the swadeshi movement.It has over 2400 branches in India and 229 correspondent banks in 69.
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The Indian Rupee strengthened against the US dollar from its previous close, on account of selling of dollars by exporters and banks amid weak dollar.