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Forex reserves decline to over two-year low to $532.66 bn: RBI data

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MUMBAI (Reuters) – India’s fell to $532.66 billion in the week through Sept. 30, their lowest level since July 2020, the of India’s (RBI) weekly statistical supplement showed on Friday.


The country’s reserves declined for a ninth consecutive week. They were $537.52 billion at the end of the previous week ended Sept. 23.


The rupee breached the key 82 per dollar level on Friday, having weakened for four straight weeks, with traders saying the RBI had likely intervened occasionally over the period to arrest the pace of currency’s fall.


 


(Reporting by Anushka Trivedi in Mumbai; editing by Uttaresh.V)

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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