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India's forex reserves slumps by $9.64 billion, the biggest drop in last 2 yrs

India's forex reserves slumps by $9.64 billion, the biggest drop in last 2 yrs

Mar 20, 2022, at 08:20 am

India's foreign exchange (forex) reserves dipped by $9.646 billion to $622.275 billion in the week ended March 11, the biggest drop in almost two years, as the Reserve Bank of India (RBI) engaged in selling dollars to prevent the erosion in the value of rupee.