Business Blog: Forex reserves drop by $3 billion to $603.87 billion in 2nd consecutive weekly decline

Friday, August 4, 2023

Forex reserves drop by $3 billion to $603.87 billion in 2nd consecutive weekly decline

India's forex reserves dropped by $3.165 billion to $603.87 billion for the week ended July 28, the RBI said on Friday. This is the second consecutive weekly drop in the reserves after the $1.987 billion decline to $607.035 billion in the previous reporting week. In October 2021, the country's forex kitty reached an all-time high of $645 billion.

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