India's forex reserves drop by $2.69 bn to $717 bn

🇮🇳 The Hindu (IN) —
India's forex reserves drop by $2.69 bn to $717 bn

AI Summary

India’s foreign exchange reserves fell by $2.69 billion to $717 billion. Experts attributed the decline to deployment of FCNR(B) resources and the Reserve Bank of India selling dollars to defend the currency.

Experts attribute this decline to the deployment of the Foreign Currency Non-Resident Bank (FCNR[B]) resources and also to currency defence put up by RBI through dollar sales

World Markets India foreign exchange reserves RBI currency defence dollar sales FCNR(B) foreign exchange

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