Comments
The country’s forex reserves dropped by $4.50 billion to $528.37 billion for the week ended October 14, the RBI said on Friday.
The overall reserves had increased by $204 million to $532 billion in the previous reporting week, which was the first weekly increase in the kitty since August this year.
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.
Foreign currency assets, a major component of the overall reserves, saw a drop of $2.828 billion to $468.668 billion during the week to October 14, according to RBI Weekly Statistical Supplement.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.