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Forex reserves fall by $3.06 billion, now at $696.67 billion
India's foreign exchange reserves dropped by $3.06 billion last week, landing at $696.67 billion.
This is the second week in a row we've seen a fall, after hitting an all-time high of nearly $705 billion in September 2024.
Gold reserves actually went up by $342 million
Most of the decline came from a $3.537 billion decrease in foreign currency assets.
On the bright side, gold reserves actually went up by $342 million, now totaling almost $85 billion.
RBI intervenes in forex market to prevent sharp rupee swings
The RBI steps in to keep things steady when global markets get shaky—selling dollars to help prevent big swings in the rupee's value.
They don't chase any magic number for the exchange rate; it's all about keeping things calm and predictable for everyone, especially with so much uncertainty out there right now.
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