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Foreign Exchange Reserves Slip To $562 Billion In First Week Of YearIndia's foreign exchange reserves fell to $561.58 billion in the week through Jan. 6, the Reserve Bank of India's (RBI) statistical supplement showed today.
For the week ended Dec. 30, the country's reserves were at $562.85 billion, down from $633.61 billion at the end of 2021.
The central bank has been intervening in the spot and forwards market to protect the rupee and prevent a rapid depreciation. The central bank, in the past, has said that changes in reserves also stem from valuation gains or losses.
The rupee was little changed in the week to Jan. 6 after trading in a narrow range. However, for the current week ending Jan. 13, it appreciated 1.7% against a subdued dollar.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
For the week ended Dec. 30, the country's reserves were at $562.85 billion, down from $633.61 billion at the end of 2021.
The central bank has been intervening in the spot and forwards market to protect the rupee and prevent a rapid depreciation. The central bank, in the past, has said that changes in reserves also stem from valuation gains or losses.
The rupee was little changed in the week to Jan. 6 after trading in a narrow range. However, for the current week ending Jan. 13, it appreciated 1.7% against a subdued dollar.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)