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Forex reserves drop by $3 bn to $603.8 bn in 2nd consecutive weekly decline

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Gold reserves were down by USD 710 million to USD 44.904 billion, the RBI said.


India’s forex reserves dropped by USD 3.165 billion to USD 603.87 billion for the week ended July 28, the RBI said on Friday.

This is the second consecutive weekly drop in the reserves after the USD 1.987 billion decline to USD 607.035 billion in the previous reporting week,

In October 2021, the country’s forex kitty reached an all-time high of USD 645 billion….

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