Home News india: India’s forex reserves drop $5.2 billion to $545.652 billion, as of September 16

india: India’s forex reserves drop $5.2 billion to $545.652 billion, as of September 16

by WOOWinvest
0 comment
india: India’s forex reserves drop $5.2 billion to $545.652 billion, as of September 16


India’s foreign exchange reserves got poorer by another $5.2 billion in the week to September 16, a week before the synchronized monetary tightening by major global central banks following the US Fed’s 75 basis points rate hike.

The reserves stood at $545.652 billion, according to the Reserve Bank of India’s latest weekly statistical supplement.

Following the monetary tightening across the globe, the dollar rallied to a 20-year high. RBI’s action back home to prevent sharp depreciation of the rupee may lead to further fall in reserves, forex market participants said.

Out of the current reserves, foreign currency assets stood at $484.901 billion while reserves held in gold were valued at $38.186 billion. The balance is kept with the International Monetary Fund as special drawing rights and reserves.

You may also like

Leave a Comment

Our Mission is to help you make better trading decisions by providing actionable investing content, comprehensive tools, educational resources and assist you in making more money in the stock market.

Latest News

Newsletter

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

@2022 – All Right Reserved. Designed and Developed by WOOW Invest

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy