Notable decline in forex reserve because RBI using forex to manage currency volatility: UBI Report
The Business Guardian|December 06, 2024
The recent decline in India's forex reserve from USD 705 billion to USD 656.58 billion is because the central bank is using forex reserve to manage currency volatility, says a report by Union Bank of India.
TBG NETWORK

The report says that the Reserve Bank of India (RBI) is actively working on curtailing currency volatility as persistent dollar outflows have put pressure on the Indian Rupee.

It noted that persistent foreign portfolio investor (FPI) outflows from the equity market have pushed the rupee to record lows. To manage the situation, the RBI has been utilizing its forex reserves, which dropped to USD 656.58 billion as of the week ended November 22, 2024.

この記事は The Business Guardian の December 06, 2024 版に掲載されています。

7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。

この記事は The Business Guardian の December 06, 2024 版に掲載されています。

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