💨 Abstract

India's foreign exchange reserves increased by $1.05 billion in the week ending January 31, marking the second consecutive week of gains after a four-month slump. The reserves are now around 10% lower than their peak in September. The decline is likely due to Reserve Bank of India (RBI) intervention to prevent a sharp depreciation of the Indian Rupee, which is currently near its all-time low against the US dollar.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖