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In October 2021, the country's forex kitty 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
India's foreign exchange reserves dropped by $6.05 billion to $593.48 billion during the week ended May 19, RBI said on Friday. The drop in the kitty has snapped two consecutive weeks of increases. In the previous reporting week, the overall reserves had increased by $3.5 billion to take the overall quantum just shy of $600 billion.
In the previous reporting week, the overall reserves had increased by USD 3.5 billion to take the overall quantum just shy of USD 600 billion.
The total reserves have climbed by USD 3.5 billion from the previous reporting week, bringing the total amount to little under USD 600 billion, , forex reserve, rbi
RBI has said that India's foreign exchange (forex) reserves rose by $3.553 billion to $599.529 billion for the week ending May 12. A major component of the reserves, the...