Finance
DoggfatherIndia's Forex Reserves Drop Like It's Hot: $7.5 Billion Gone
Yo, peep this: India’s forex reserves just took a nosedive of 7.5 billion bucks, hittin’ 681.384 billion as of May 22. PM Modi’s droppin’ wisdom, askin’ folks to ease up on that foreign travel and gold bling to keep the cash flow smooth. Gold reserves lost 4.53 billion, but we keepin’ it real, fam.
few days ago | PTI
Quick rundown
1.India's forex reserves dropped by USD 7.511 billion.
2.The reserves hit an all-time high in February before declining.
3.RBI intervened in the forex market due to rupee pressure.
4.PM Modi urged citizens to conserve forex by reducing foreign travel.
5.Gold reserves also saw a significant decline during the week.
