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MUMBAI: India’s foreign exchange reserves fell to an 11-week low of $593.90 billion on September 8, data from the Reserve Bank of India (RBI) showed.
That was a decrease of $5 billion from the previous week. Reserves were up $4 billion in the week leading up to September 1.
The central bank intervenes in the spot market and directs markets to prevent runaway movements of the rupee.
The changes in foreign currency assets, denominated in dollars, include the effects of appreciation or depreciation of other currencies held in the reserves of the RBI.
Foreign exchange reserves include India’s reserve tranche position in the International Monetary Fund.
For the week covered by the forex reserve data, the rupee had fallen to a near-record low of 83.2175, prompting intervention from the RBI.
The rupee ended at 83.1850 on Friday, down 0.2% this week.
That was a decrease of $5 billion from the previous week. Reserves were up $4 billion in the week leading up to September 1.
The central bank intervenes in the spot market and directs markets to prevent runaway movements of the rupee.
The changes in foreign currency assets, denominated in dollars, include the effects of appreciation or depreciation of other currencies held in the reserves of the RBI.
Foreign exchange reserves include India’s reserve tranche position in the International Monetary Fund.
For the week covered by the forex reserve data, the rupee had fallen to a near-record low of 83.2175, prompting intervention from the RBI.
The rupee ended at 83.1850 on Friday, down 0.2% this week.
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