India's foreign exchange reserves fell by USD 691 million to USD 562.808 billion in the week that ended on December 23, Reserve Bank of India's Bulletin Weekly Statistical Supplement latest data showed.
Breaking the trend of the fifth consecutive week of rising foreign exchange reserves, they fell by USD 571 million to USD 563.499 billion in the week that ended on December 16, Reserve Bank of India's Bulletin Weekly Statistical Supplement data showed on Friday.
India's foreign exchange reserves during the week that ended on December 9 rose by USD 2.91 billion to USD 564.07 billion. Notably, this is the fifth consecutive week of India's rising foreign exchange reserves.
Typically, the RBI from time to time intervenes in the markets through liquidity management, including through the selling of dollars, with a view to preventing a steep depreciation in the rupee.
India's foreign exchange reserves during the week that ended on November 25 rose by USD 2.89 billion to USD 550.14 billion, the Reserve Bank of India data showed on Friday evening. This is the third consecutive week of rising reserves.
According to RBI's latest data, India's foreign currency assets, which are the biggest component of the forex reserves, rose by USD 1.76 billion to USD 484.28 billion.
Amid a growing shortage of oil across the world due to the Russia-Ukraine war, the Oil & Gas Regulatory Authority (OGRA) on Monday warned that Pakistan may witness a petrol and diesel shortage.
Amid surging energy prices worldwide due to the Russia-Ukraine war and deteriorating economy due to inflation and its depreciating currency, Pakistan is forced to spend 66 per cent of its forex reserve on fuel imports.
According to RBI's latest data, India's foreign currency assets, which are the biggest component of the forex reserves, declined by USD 3.59 billion to USD 465.075 billion.