India’s forex kitty falls $2.6 billion to $682 billion as of November 1

India's forex kitty falls $2.6 billion to $682 billion as of November 1



Mumbai: Reserve Bank Of India‘s (RBI) foreign exchange reserves fell by $2.6 billion to $682.1 billion for the week ended November 1, latest central bank data showed. The central bank likely sold dollars to prevent a sharp depreciation in the rupee, traders said.The rupee depreciated 0.01% in the week ended November 1 closing at 84.07 per US dollar, after briefly touching an all-time intraday low during the week, LSEG data showed.

Indian stocks and bonds saw outflows from foreign portfolio investors, and dollar sales from the RBI may have likely prevented a sharp depreciation in the rupee, currency traders said.

From the total reserves, foreign currency assets declined $.3.9 billion to $589.8 billion, while gold reserves rose $1.2 billion to $69.7 billion, data showed.

Nominations for ET MSME Awards are now open. The last day to apply is November 30, 2024. Click here to submit your entry for any one or more of the 22 categories and stand a chance to win a prestigious award.



Source link

Online Company Registration in India

Leave a Reply

Your email address will not be published. Required fields are marked *