Forex Reserves Dip to $719.74 Billion
India's foreign exchange reserves fell $1.2 billion in the week ended October 24, to $719.74 billion, according to the RBI. The drop followed a sharper $5 billion fall in the previous week, when reserves stood at $721.02 billion.
Context
Context: Forex reserves are the foreign currency and gold held by the central bank, used to steady the rupee and pay for imports. Repeated falls often reflect the central bank selling dollars to support the currency during market pressure.
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