India's forex reserves dip by $9.64 billion, the biggest drop in 2 years
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India's foreign exchange (forex) reserves declined by $9.646 billion to $622.275 billion in the week ended March 11, the sharpest decline in nearly two years, as the RBI heavily sold dollars to prevent the slide in the value of rupee. According to the RBI`s weekly statistical supplement, the foreign currency assets, which is the biggest component of the forex reserves, slumped by $11.108 billion to $554.359 billion during the week under review.