India’s forex reserves fall to 3 month low of $560.94 billion

India’s forex reserves fell to a three-month low of $560.94 billion during the week ending February 24.

According to RBI’s weekly forex data released on Friday, this was the fourth straight week when the country’s foreign exchange reserves fell.

The reserves fell by $330 million during the period under review.

The RBI normally intervenes to prevent fluctuations in rupee’s exchange rate against the dollar in the spot and forwards markets.

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