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via rediff.comEconomy

Forex Reserves Dip by $2.69 Billion to $717.06 Billion

FROM THE WIRE · REDIFF.COM

India's foreign exchange reserves saw a decline of $2.691 billion, settling at $717.056 billion for the week ending October 30, according to the Reserve Bank of India (RBI). This marks a continued reduction from the all-time high recorded in September.

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MARKET IMPACTNEUTRAL✦ News Impact agent estimateTone: expected bearishThe decline continues from the September peak and signals less capacity to defend the rupee.AI-generated summary
✦ IN BRIEF · AIAI-generated summary
  1. 01India's forex reserves fell by $2.691 billion.
  2. 02Reserves settled at $717.056 billion for the week ending October 30.
  3. 03This continues a reduction from the all-time high recorded in September, per the RBI.

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