MUMBAI, March 17 (Reuters) - India's foreign exchange
reserves fell to $560 billion as of the week ended
March 10, their lowest since early-December, the Reserve Bank of
India's (RBI) statistical supplement showed on Friday.
The reserves stood at $562.40 billion in the week to March
3.
The central bank intervenes in the spot and forwards market
to prevent runaway moves in the rupee's exchange rate
against the dollar. The RBI has said in the past that changes in
reserves also stem from valuation gains or losses.
Last week, the rupee fell 0.1% against the dollar as the
banking crisis in the United States unfolded, with the currency
trading in a range of 81.6150 to 82.2975. The rupee ended at
82.5525 on Friday. (Reporting by Siddhi Nayak and Anushka Trivedi; Editing by
Savio D'Souza)
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