India's foreign exchange reserves decline $4.6 billion to $596 billion

India’s foreign exchange reserves declined $4.6 billion to $596 billion for the week ended June 10, the latest data released by the Reserve Bank of India (RBI) showed. The fall in total reserves was mainly because of a decline in foreign currency assets worth $4.5 billion, the data showed.

The central bank has been aggressively intervening in the foreign exchange market for the last few months. RBI has been selling dollars to curb any rapid depreciation of the rupee. 

Most emerging market currencies have come under pressure since the start of the war in Ukraine in late February as investors