India's foreign exchange reserves drop for the third month, marking a twelfth fall in 13 weeks

Economy

1 year ago

News sources:

Credited from: INDIATIMES

India's **foreign exchange reserves** have decreased for the **third consecutive month**, with a drop of **$4.112 billion** as of December 27.
This marks the **twelfth decline** in the past **13 weeks**, pushing reserves down to **$640.279 billion**.
Reserves peaked at **$704.89 billion** in September but have since declined by nearly **10%** due to **RBI interventions**.
Despite the drop, India's reserves remain **adequate**, covering nearly a year’s worth of imports, with a notable addition of **$58 billion** in 2023.
The Reserve Bank of India is focused on maintaining **currency market stability**, oscillating between buying and selling dollars to support the **Rupee**.

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