foreign exchange reserves: India’s international change reserves fall for fifth straight week

India’s international change reserves continued its fall for the fifth straight week because the Reserve Financial institution of India seems to be promoting {dollars} from its coffers to forestall sharp depreciation of the rupee amid a surge in world crude costs.

The reserves fell by $2.471 billion within the week to April 8 to $604.004 billion, RBI knowledge confirmed.. Within the final 5 weeks, reserves fell by a large $28.5 billion.

RBI doesn’t give causes behind modifications in foreign exchange reserves.

The international foreign money property, which incorporates holdings of {dollars} in addition to different world currencies resembling euro, pound and yen expressed in greenback phrases, fell $10.7 billion within the reporting week to $539.727 billion.

Foreign exchange reserves have been at its peak at $642.453 billion on September 3 final 12 months.
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