by Dhara Hariya | Oct 6, 2023 | Forex
India’s foreign exchange reserves, as reported by the Reserve Bank of India (RBI), have decreased for a fourth consecutive week, reaching $586.91 billion as of September 29. This marks the lowest level in over five months, with a decline of $3.8 billion from the...
by Dhara Hariya | Sep 27, 2023 | Forex
In a bid to safeguard the Indian rupee from plummeting to record lows, India’s central bank recently engaged in a strategic move. It sold U.S. dollars in the offshore non-deliverable forwards (NDF) market at approximately 83.24-83.25 rupee levels. This move came...
by Dhara Hariya | Sep 22, 2023 | Forex
India’s foreign exchange reserves saw a second consecutive weekly decline, reaching a near four-month low of $593.04 billion as of September 15, according to data from the Reserve Bank of India (RBI). This marked a decrease of $860 million from the previous...
by Dhara Hariya | Sep 20, 2023 | Forex
India’s central bank, the Reserve Bank of India (RBI), took action to prevent the rupee from sliding to a historic low, according to reports from four traders interviewed by Reuters. The currency market had been closely monitoring the rupee’s performance,...