India's forex reserves drop to $593.75 billion

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Key Points

India's foreign exchange reserves fell to $593.75 billion as of June 9, the Reserve Bank of India's (RBI) data showed on Friday..

Reserves had risen by $5.9 billion in the week to June 2...

The central bank intervenes in the spot and forwards markets to prevent runaway moves in the rupee . The changes in foreign currency assets, expressed in dollar terms, include the effects of appreciation or depreciation of other currencies in the RBI's reserves...

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