MUMBAI, April 28 (Reuters) - India's foreign exchange
reserves eased from over-nine-month highs and stood
at $584.25 billion for the week ended April 21, the Reserve Bank
of India's (RBI) statistical supplement showed on Friday.
That is a decrease of $2.16 billion from the previous week.
Reserves had gone up by a total of nearly $8 billion in the
prior two weeks.
The central bank intervenes in the spot and forwards markets
to prevent runaway moves in the rupee . Changes in forex
reserves also stem from valuation gains or losses.
For the reported week, the rupee had ended 0.3% lower
against the U.S. dollar and snapped a four-week rising streak.
The Indian currency traded in a narrow range of 81.8775 to
82.2425.
The rupee closed at 81.8250 on Friday in the week ending
April 28, clocking 0.33% gains against the dollar over the
period. (Reporting by Siddhi Nayak and Anushka Trivedi; Editing by
Sohini Goswami)
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