Saturday, June 07, 2025 | 04:42 AM ISTहिंदी में पढें
Business Standard
Notification Icon
userprofile IconSearch

India's forex reserves slip $5 bn in a week amid RBI interventions

Most emerging market currencies have faced pressure since the start of the war in Ukraine in late February as investors have rushed to safe-haven assets

Over the past three months, FMCG stocks have cornered the highest FPI flows at $1.7 billion, according to an analysis by IIFL Alternative Research.
premium

The RBI’s total reserves were at $631.53 billion as on February 25.

Bhaskar Dutta Mumbai
India’s foreign exchange reserves declined $5 billion to $588.31 billion during the week ended July 1, the latest data released by the Reserve Bank of India (RBI) showed.

The fall in forex reserves was mainly because of a decline in foreign currency assets worth $4.5 billion, the data showed. This was likely on account of the central bank stepping up intervention in the foreign exchange market. The central bank has been selling dollars to curb excessive volatility in the exchange rate and prevent runaway depreciation in the rupee.

In the week ended July 1, the rupee depreciated 0.9 per cent versus the