India’s forex reserves fall $7.05 billion to $709.76 billion as of March 13

India's foreign exchange reserves saw a significant drop. Reserves fell by $7.05 billion to $709.76 billion in the week ending March 13. This follows a previous decline of $11.68 billion. The Reserve Bank of India intervened heavily in currency markets. The central bank sold dollars to support the rupee. Global oil prices and the Iran conflict contributed to this pressure.