Mumbai
India’s foreign exchange reserves fell by USD 10.288 billion to USD 688.058 billion for the week ended March 27, the Reserve Bank of India (RBI) reported on Friday. The previous week had seen a decline of USD 11.413 billion to USD 698.346 billion.
The fall comes amid geopolitical tensions in West Asia, which have put pressure on the rupee. The RBI has intervened in forex markets through dollar sales and policy measures to stabilize the currency. For the reporting week, foreign currency assets—the largest component of reserves—dropped by USD 6.622 billion to USD 551.072 billion. Gold reserves fell by USD 3.666 billion to USD 113.521 billion.
