India's forex reserves drop amid RBI intervention
after close1 source ↓written by the desknot a recommendation
- reserves fell
- $1.9 billion
- in the week
- $686.2 billion
- the week ending
- 28 Nov 2023
- due to falling
- $4.472 billion
- of imports
- 11 months
India's foreign exchange reserves fell by $1.9 billion to $686.2 billion in the week ending 28 Nov 2023. This decline follows a previous drop of $4.472 billion due to falling gold values. The RBI's actions aim to stabilize the rupee, which can cover over 11 months of imports.
• Foreign currency assets decreased by $3.6 billion to $557 billion
• Gold reserves increased by $1.6 billion to $105.8 billion
The ongoing fluctuations may impact market sentiment and currency trading strategies.
Not investment advice. For informational purposes only.