Market News
India's forex reserves decline for sixth week to its lowest in nearly 3 months - REUTERS
Nov 15 (Reuters) - India's foreign exchange reserves (INFXR=ECI) dropped for a sixth consecutive week to a near 3-month low of $675.65 billion as of Nov. 8, data from the Reserve Bank of India (RBI) showed on Friday. The reserves fell by $6.5 billion in the reporting week and are down $29.2 billion from the record-high of $704.89 billion hit in late September. Changes in foreign currency assets are caused by the central bank's intervention in the forex market as well as the appreciation or depreciation of foreign assets held in the reserves.
