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The Economic Times

Economy / The Economic Times

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India forex reserves drop $7.8 bn; rupee weakens to 94.47 against the dollar

India's foreign exchange reserves saw a significant drop of over seven billion dollars. This marks the second consecutive weekly fall. The Reserve Bank of India has been using these reserves to stabilize the currency market. The Indian Rupee also weakened against the US Dollar. Foreign currency assets and gold reserves contributed to this decline.

8 May 2026 7:06 pm