💨 Abstract

India's foreign exchange reserves increased by USD 8.310 billion to USD 686.145 billion in the week ended April 18, marking the seventh consecutive weekly rise. The reserves had been declining for four months before this. The decline was likely due to Reserve Bank of India (RBI) intervention to prevent a sharp depreciation of the Indian Rupee, which is now near its all-time low against the US dollar.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖