Mumbai: After rising for five consecutive weeks, India’s forex kitty dropped $571 million to $563.5 billion for the week ended December 16, according
Mumbai: After rising for five consecutive weeks, India’s forex kitty dropped $571 million to $563.5 billion for the week ended December 16, according to RBI data released on Friday. In the previous reporting week, the overall reserves had swelled $2.9 billion to $564.1 billion, making it the fifth straight week of an increase in the kitty after a protracted decline.
In October 2021, the foreign exchange kitty had reached a high of $645 billion. The reserves had been declining as the central bank deployed the reserve to defend the rupee amid pressures caused majorly by global developments. Foreign currency assets, a major component of the overall reserves, decreased $500 million to $499.6 billion in the week. agencies
In October 2021, the foreign exchange kitty had reached a high of $645 billion. The reserves had been declining as the central bank deployed the reserve to defend the rupee amid pressures caused majorly by global developments. Foreign currency assets, a major component of the overall reserves, decreased $500 million to $499.6 billion in the week. agencies
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