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India's Forex Reserves Drop After Three-Week Rise

India's Forex Reserves Drop After Three-Week Rise

India's foreign exchange reserves have fallen to $635.72 billion as of February 14, ending a three-week increase. The reserves decreased by $2.54 billion, the largest drop in a month. This decline follows a total rise of $14.3 billion in the previous three weeks. The rupee is facing challenges due to slow economic growth, a recent interest rate cut, and foreign investments pulling out of local stocks. During this period, the rupee hit an all-time low of 87.95 against the dollar but managed to recover slightly due to central bank intervention, which helped the currency gain 0.7% over the week.

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