India's Forex Reserves Drop

  • 24 Feb 2024

India's forex reserves declined for the second consecutive week, reaching a two-month low of $616.10 billion as of February, 16th, 2024.

  • India's forex reserves decrease by $1.13 billion, marking a two-month low.
  • RBI intervenes to stabilize the rupee amidst foreign exchange market volatility.
  • Fluctuations in foreign currency assets reflect RBI interventions and global asset value changes.
  • Reserves encompass India's position in the IMF and foreign currencies.
  • Rupee remains stable against the dollar, closing the week at 82.9375, with minimal change.