Mumbai: The country’s forex reserves dropped by $8.3 billion to $566.9 billion for the week ended February 10, the RBI said on Friday. This is the se
Mumbai: The country’s forex reserves dropped by $8.3 billion to $566.9 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 $1.5-billion decrease in the previous reporting week.
It can be noted that in October 2021, the forex kitty had reached an all-time high of $645 billion. The reserves have been declining as the RBI deploys the kitty to defend the rupee amid pressures caused majorly by global developments.
For the week ended February 10, the foreign currency assets, a major component of the reserves, decreased by $7.1 billion to $500.6 billion, according to the weekly statistical supplement released by the RBI. agencies
It can be noted that in October 2021, the forex kitty had reached an all-time high of $645 billion. The reserves have been declining as the RBI deploys the kitty to defend the rupee amid pressures caused majorly by global developments.
For the week ended February 10, the foreign currency assets, a major component of the reserves, decreased by $7.1 billion to $500.6 billion, according to the weekly statistical supplement released by the RBI. agencies
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