India’s forex reserves rise $938 million to $682 billion despite RBI’s $5 billion swap
India's foreign exchange reserves saw a slight increase of $938 million, reaching $682 billion by May 29. This rise occurred despite a significant dollar-rupee swap by the Reserve Bank of India. The central bank likely sold dollars in the spot market to support the rupee. Foreign currency assets grew, while gold reserves saw a decline. Mumbai: India's foreign exchange reserves…
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