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Story summary
- Prime Minister Narendra Modi announced a five-nation tour starting May 15 as oil prices rise and FX reserves fall.
- He will meet UAE President Mohammed bin Zayed Al Nahyan on May 15 and then visit the Netherlands, Sweden, Norway and Italy.
- Modi urged fuel conservation, lower imports and gold purchases to limit the current-account deficit and inflation.
- Shares fell and the rupee hit a record low after the measures were announced.
