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Home > All news > Business, Economy > Forex reserves drops, hit over 4-month low

Forex reserves drops, hit over 4-month low

November 23, 2024
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Mumbai - India’s foreign exchange reserves logged their sharpest weekly fall on record to a more-than-four-month low last week, as the dollar strengthened following the U.S. election verdict, and the central bank sold from its reserves to limit the rupee’s decline. The reserves fell by $17.8 billion in the week of Nov. 15 – the most since available data starting 1998 – to $657.89 billion, data from the Reserve Bank of India (RBI) showed. Forex reserves have fallen by a total of nearly $30 billion in the last six weeks and are down by . . .

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