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India's foreign exchange reserves at 11-week low, down for third week

In the week gone by, the rupee depreciated 0.4 per cent against the US dollar, settling at 82.83 per US dollar on February 17

Mumbai: A security personal outside Reserve Bank of India (RBI) headquarters, in Mumbai, Wednesday, June 8, 2022. (PTI Photo
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Reserves worth $576.8 billion as on January 27 cover 9.4 months of projected imports for the current fiscal year, the RBI staff said in the central bank’s February Bulletin

Bhaskar Dutta Mumbai
The Reserve Bank of India’s (RBI’s) foreign exchange reserves declined by $5.7 billion to an 11-week low of $561.27 billion in the week ended February 17, latest central bank data showed.

The fall in the reserves for the third straight week was mainly on account of a drop in the RBI’s foreign currency assets, which declined $4.5 billion to $496.07 billion in the previous week.

The RBI’s gold reserves also declined last week, dropping $1 billion to $41.82 billion, the data showed.

In the week gone by, the rupee depreciated 0.4 per cent against the US dollar, settling at 82.83

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First Published: Feb 24 2023 | 7:38 PM IST

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