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via thehindu.comEconomy

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

FROM THE WIRE · THEHINDU.COM

India's forex reserves fell $2.69B to $717.06B as RBI cites FCNR(B) deployments and currency defense, with declines in FCA, gold, and SDRs.

Read at the source ↗
MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishThe reserve drop reflects currency defence and can affect perception of the rupee.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01Forex reserves fell $2.69B to $717.06B.
  2. 02The RBI cites FCNR(B) deployments and currency defence.
  3. 03Declines were seen in FCA, gold and SDRs.

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