MUMBAI, Feb 10 (Reuters) - India's foreign exchange
reserves fell for the first time in four weeks and
stood at $575.27 billion in the week through Feb. 3, the Reserve
Bank of India's (RBI) statistical supplement showed on Friday.
The reserves dropped 1.5% last week, their biggest such drop
since the week ended Oct. 21.
In the week to Jan. 27, the reserves stood at $576.76
billion.
The central bank intervenes in the spot and forwards market
to prevent exchange rate volatility. The RBI has said in the
past that changes in reserves also stem from valuation gains or
losses.
In the week to Feb. 3, the rupee fell 0.7% against the U.S.
dollar and traded in a wide range of 81.49 to 82.31.
The rupee logged its biggest weekly drop in two months this
week, ending Feb. 10, on worries that the better-than-expected
U.S. jobs report may prompt the Federal Reserve to raise its
terminal rate.
(Reporting by Siddhi Nayak; Editing by Savio D'Souza)
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