look news india
India's foreign exchange reserves declined by $2.28 billion to $640.33 billion in the week ending April 19. This reserve has decreased for the second consecutive week, this information is available from the data released by the Reserve Bank of India.
Last week also there was a decrease of 5.40 billion dollars in reserves. Earlier, the reserves had increased for seven consecutive weeks, after which the reserves reached an all-time high of $ 648.56 billion in the week ending April 5. Earlier, the highest level of this reserve was recorded in September, 2021. At that time the reserve figure was 642.45 billion dollars.
RBI has used this reserve to intervene in the currency market to stop the fall of the rupee, which has led to the decline in reserves. Foreign exchange assets declined by $3.79 billion to $560.86 billion in the week ended April 19. However, the RBI said gold reserves increased by $1.01 billion to reach $56.80 billion.