India's foreign exchange (forex) reserves dropped by $4.854 billion to $532.664 billion for the week ended September 30, as the Reserve Bank of India (RBI) weekly data showed on Friday. This is the ninth straight weekly drop. With this drop, It has hit its lowest level since July 2020.
India's foreign exchange (forex) reserves slumped by $7.941 billion to $553.105 billion for the week ended September 2, the lowest level in almost two years, the Reserve Bank of India (RBI) data showed.
As economists have predicted that India's current account deficit (CAD) is likely to reach the level of 3 per cent of the GDP in the current financial year and is unlikely to come down in the near future, the government seems to be cautiously optimistic about reining it within tolerable standards.
