Forex reserves drop to $781 billion after hitting a peak of $785 billion

In the week ending September 11, India’s foreign exchange reserves fell by $4.9 billion, bringing the total down to $780.7 billion from a previous high of $785 billion. This downturn is largely attributed to diminishing gold reserves’ valuations. Analysts suggest that most inflows from FCNR(B) awaiting conversion have likely been completed.

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