India's Forex Reserves Drop to $640.33 Billion, Six-Week Low

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 India's foreign exchange reserves fell by $2.83 billion to $640.33 billion as of April 19, continuing a two-week decline. The RBI sold $1.5 billion in the NDF market amid rupee depreciation due to geopolitical tensions. FCAs dropped by $3.79 billion, while gold reserves increased by $1.01 billion.

Forex Reserves News Today

India's foreign exchange reserves witnessed a second consecutive weekly decline, reaching a six-week low of $640.33 billion as of April 19, according to data from the Reserve Bank of India (RBI). The reserves decreased by $2.83 billion, following a $5.4 billion drop in the previous week.

Additional Read: India's Forex Reserves Surge to Record Highs

RBI Intervention Amid Rupee Volatility

The RBI intervened in the foreign exchange market to manage excess volatility in the rupee, which fell to a lifetime low of 83.5750 against the dollar during the reporting week. Despite this, the rupee logged marginal weekly losses.

Additional ReadShare Market Updates

Other Key Data: Gold Reserves, IMF Position, FCAs

Gold reserves increased by $1.01 billion to $56.81 billion, while Special Drawing Rights (SDRs) decreased by $43 million to $18.03 billion.

Foreign currency assets (FCAs) contracted by $3.79 billion to $560.86 billion, reflecting the impact of appreciation or depreciation of non-US currencies held in the reserves.

The reserve position in the IMF also dipped by $2 million to $4.63 billion.

The RBI regularly monitors the foreign exchange markets and intervenes as needed to maintain orderly market conditions and prevent excessive volatility in the exchange rate. The central bank's interventions may include liquidity management measures and the selling of dollars to stabilise the rupee.


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