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How did Ambani Brothers lose billions?
By: Tupaki Desk | 24 Aug 2013 12:45 PM GMT
Reliance Industries chairman Mukesh Ambani has lost thousands of crores because of the rupee crash from Rs 53.80 on May 1st to Rs 65.56 on August 22nd. He has incurred loses to the tune of $5.6 billion (Rs 33,600 crore) since May this year. Currently, Mukesh's net worth if $17.5 billion (approx Rs 1 lakh crore) and he is still the country's most richest man.
Reliance Communications chairman Anil Ambani has lot $1.3 billion of his wealth from May 1st to August 22nd and he is the country's eight richest man.
Aditya Birla Group chairman Kumar Mangalam Birla has lost about $950 million during this period.
Indian rupee has crashed over 20 percent since May 1st and analysts say it may even reach a record low of 70. The Reserve Bank of India (RBI) is unable to stall the fall of rupee.
Reliance Communications chairman Anil Ambani has lot $1.3 billion of his wealth from May 1st to August 22nd and he is the country's eight richest man.
Aditya Birla Group chairman Kumar Mangalam Birla has lost about $950 million during this period.
Indian rupee has crashed over 20 percent since May 1st and analysts say it may even reach a record low of 70. The Reserve Bank of India (RBI) is unable to stall the fall of rupee.
