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India’s foreign exchange (forex) reserves rose by USD 2.762 billion to USD 632.952 billion for the week ended February 18, led by a sharp jump in the value of gold reserves, the Reserve Bank of India (RBI) data showed.

Prolonged war between Russia and Ukraine or for that matter any spill over in hostilities to other regions beyond may hurt Indian tea exports, thereby also putting extra pressure on the already declining prices of the beverage.