Forex reserves fall by $8.32 bn

Mumbai, February 17 India’s forex reserves dropped by $8.319 billion to $566.948 billion for the week ended February 10, the RBI said on Friday. This is the second consecutive week of drop in the reserves after the $1.49-billion decrease in...

PTI

Updated At : 01:44 PM Feb 18, 2023 IST

Mumbai, February 17

India’s forex reserves dropped by $8.319 billion to $566.948 billion for the week ended February 10, the RBI said on Friday. This is the second consecutive week of drop in the reserves after the $1.49-billion decrease in the previous reporting week.

It can be noted that in October 2021, the country’s forex kitty had reached an all-time high of $645 billion. The reserves have been declining as the central bank deploys the kitty to defend the rupee amid pressures caused majorly by global developments.