India's foreign exchange reserves drop by $8.714 billion

India's foreign exchange reserves have seen a significant decline of USD 8.714 billion, dropping to USD 625.871 billion for the week ended January 10. The reduction is attributed to revaluation and the Reserve Bank of India's efforts to stabilize rupee fluctuations, with foreign currency assets reducing by USD 9.469 billion.

Jan 17, 2025 - 20:00

India's foreign exchange reserves drop by $8.714 billion

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India's foreign exchange reserves have seen a significant decline of USD 8.714 billion, dropping to USD 625.871 billion for the week ended January 10. The reduction is attributed to revaluation and the Reserve Bank of India's efforts to stabilize rupee fluctuations, with foreign currency assets reducing by USD 9.469 billion.