Reserves drop as FCNR inflows dry, RBI dollar sales continue

Reserves have fallen to $734.6 billion in the week ended October 2, the fourth consecutive week of fall and down from a recent peak of $785.71 billion reported on September 4, ‌according to a footnote to governor Sanjay Malhotra’s monetary policy statement on Wednesday. The latest reserve numbers were released earlier than the scheduled date of October 9.

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