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India's foreign exchange reserves drop by $2.54 billion as the RBI stabilizes the Rupee.
India's foreign exchange reserves fell by $2.54 billion by February 14, reversing recent gains.
The decline is due to the Reserve Bank of India's interventions to stabilize the Rupee, which is near its lowest point against the U.S. dollar.
Despite the drop, reserves, at around $635 billion, are still enough to cover about 10-11 months of projected imports.
2 months ago
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