India's forex reserves post biggest weekly fall in 11 months

New Delhi: India’s foreign exchange reserves fell by $8.3 billion to $566.95 billion in the week ended February 10 its biggest weekly fall in 11 months.

According to data released by RBI on Friday, the reserves are at their lowest level since January 6, 2023.

The fall for the second straight week was mainly due to a decline in foreign currency assets, which dropped $7.1 billion to $500.59 billion.

In the week ended February 10, the rupee lost 0.8 percent to close at 82.51 per dollar as US jobs data sparked worries about the Federal Reserve raising interest rates for longer than was earlier anticipated.

Subscribe us on

Stay connected with us on social media platform for instant update click here to join our T witter, & Facebook

We are now on Telegram. Click here to join our channel (@TechiUpdate) and stay updated with the latest Technology headlines.

For all the latest Business News Click Here

Read original article here

Denial of responsibility! Rapidtelecast.com is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.

India’s forex reserves post biggest weekly fall in 11 months