💨 Abstract

India's foreign exchange reserves declined by $2.54 billion in the week ending February 14, reversing the gains made in the previous three weeks. This follows a four-month slump that brought reserves to an 11-month low. The decline is attributed to RBI intervention to prevent a sharp depreciation of the Rupee, which is currently at or near its all-time low against the US dollar.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖