Live
- Kiran Abbavaram's Hard Work Pays Off: Bunny Vasu Lauds Ka Team at Success Meet
- PM Modi’s welfare schemes transform rural lives in Bokaro, residents share gratitude
- We will ensure Bangladeshi infiltrators are removed from Jharkhand: BJP's Gourav Vallabh
- Hezbollah fires five rockets at central, northern Israel: sources
- HM Amit Shah, Rajnath Singh to address several rallies in Jharkhand tomorrow
- Will not waste single day in getting back what we lost, Omar Abdullah tells Assembly
- PM Modi visits Advani's residence to wish him on birthday, shares special moment
- Sun-Dried Cotton to Be Taken to CCI Purchase Centers, Avoid Middlemen - Collector
- Survey Process Requires Public Cooperation - Collector Badavath Santosh
- Distribution of Maize Seeds to Farmers at Agricultural Research Center
India’s forex kitty falls for 5th week in a row
13 Oct 2023 7:42 PM IST
Highlights
India’s foreign exchange reserves fell for a fifth consecutive week to settle at a five-month low of $584.74 billion as of October 6, figures compiled by the RBI showed on Friday.
Mumbai: India’s foreign exchange reserves fell for a fifth consecutive week to settle at a five-month low of $584.74 billion as of October 6, figures compiled by the RBI showed on Friday.
The $2.17 billion decline from the previous week came on top of a close to $12 billion drop in the preceding four weeks.
The RBI intervenes in the spot and forwards markets by releasing more dollars to prevent the rupee from going into a free fall when it comes under pressure due to the increased demand for dollars amid rising oil prices.
Any sharp decline in the country’s forex kitty also leads the RBI less headroom to intervene in the market to stabilise the rupee.
The rupee ended at 83.2625 on Friday, down for a third consecutive week.
Next Story
ADVERTISEMENT
