World's currency reserves shrink by a record $1 trillion this year

The global foreign-currency reserves have declined by about $1 trillion, or 7.8%, this year to $12 trillion, the biggest drop since Bloomberg began keeping a record in 2003. The decline comes amid the central banks of India and the Czech Republic's intervention to support their own currencies. India's reserves have slumped by $96 billion this year to $538 billion.