India's forex reserves have declined nearly $34 billion, or about 5.4 per cent, since Russia invaded Ukraine on February 24.

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The latest data for the April 29 ending week from RBI released on Friday showed the country's FX reserves fell by $2.695 billion to $597.728 billion

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The last time the country's import cover fell below the $600-billion-mark was during the week ending May 28, 2021.

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The last time the country's import cover fell below the $600-billion-mark was during the week ending May 28, 2021.

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Back then, hospitals across the country were scrambling for beds and oxygen in response to a deadly second surge in infections

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The fall in FX reserves started during the week ending March 11, when the rupee hit its all-time lows.

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