India’s Foreign Reserves Fall From Record as RBI Supports Rupee
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India’s foreign exchange reserves fell after touching a record high in the previous week as the central bank sold dollars to cushion the rupee’s drop.
The stockpile dropped by $2.9 billion to $652.90 billion as of June 14, from a record high of $655.8 billion in the previous week, data from the Reserve Bank of India showed Friday. That’s the first decline in three weeks.