India's FX Reserves Fall for Fourth Week, Down $50 Billion From September Peak

India's Forex Reserves Fall by $12.95 Billion to $734.61 Billion in Week Ended Oct 2: RBI

Get latest articles and stories on Business at LatestLY. India's foreign exchange reserves fell sharply by USD 12.95 billion to USD 734.61 billion in the week ended October 2, primarily due to a decline in foreign currency assets and gold reserves, according to data released by the Reserve Bank of India (RBI) on Friday. Business News | India's Forex Reserves Fall by $12.95 Billion to $734.61 Billion in Week Ended Oct 2: RBI.

India's forex reserves fall for fourth week, down $50 bn from Sept peak at $734 bn

The ‌drawdown reflects the RBI’s dollar sales in the spot market to ‌smooth the rupee’s ​decline, alongside sell/buy FX swaps aimed at ⁠absorbing surplus liquidity

India's FX reserves fall for fourth week, down $50 billion from September peak

India's foreign exchange reserves have fallen for the fourth consecutive week to $734.6 billion. This decline follows a recent peak of $785.71 billion on September 4. The Reserve Bank of India has intervened in the market to support the rupee's value amid rising pressures. Elevated oil prices, increasing US Treasury yields, and foreign equity outflows are contributing to the rupee's depreciation. On Wednesday, the rupee declined nearly 0.

India’s Forex Reserves Fall for Fourth Week to $734.6 Billion

India’s foreign exchange reserves fell for the fourth consecutive week to $734.6 billion, according to data cited by the Reserve Bank of India (RBI). The reserves are now around $50 billion below their recent peak of $785.71 billion recorded on September 4. The decline comes as the RBI has been selling dollars in the spot […]