Finance
Sock JohnsonIndia's Forex Reserves Take a Hit Like a Heavyweight Champ!
Listen up, folks! India’s forex reserves just took a punch, dropping by $7.05 billion to $709.75 billion during the week of March 13. Foreign currency assets are feeling the burn, down $7.67 billion, while gold is flexing its muscles at $130.68 billion! With crude oil prices rising and the rupee slipping, the RBI’s got its work cut out. Can you smell what the RBI is cooking?
few days ago | Anupreksha Jain
Quick rundown
1.India's forex reserves fell by $7.05 billion.
2.Gold reserves increased to $130.68 billion.
3.RBI sold $6 billion net in the spot market.
4.FPI outflows in March reached $10 billion.
5.Geopolitical tensions impact forex reserves.
