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Forex reserves shrink by $8.13 bn to $537.51 bn

In May and June, the RBI had bought $28.3 billion of forex forwards. According to the Bank of America Merrill Lynch report, this fully covers its short outstanding forwards position, including $26 billion of FCNR-B swaps. Photo: Hemant Mishra/Mint Premium
In May and June, the RBI had bought $28.3 billion of forex forwards. According to the Bank of America Merrill Lynch report, this fully covers its short outstanding forwards position, including $26 billion of FCNR-B swaps. Photo: Hemant Mishra/Mint
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