India’s foreign exchange reserves continue to ease
India’s foreign exchange reserves have continued to ease from the record high of $704.9 billion registered in the last week of September.Foreign exchange reserves held by the Reserve Bank of India dec
India’s foreign exchange reserves have continued to ease from the record high of $704.9 billion registered in the last week of September.
Foreign exchange reserves held by the Reserve Bank of India decreased to $688 billion as of October 18th, the latest data showed.
The result was largely attributed to an outflow of foreign capital amid heightened tensions in the Middle East and as investors had higher preference for Chinese assets following Beijing’s stimulus measures.
The USD/INR currency pair settled little changed at 84.0750 on Friday. For the week, the exotic currency pair inched up 0.03%.
Disclaimer: The views in this article are from the original author and do not represent the views or position of Hawk Insight. The content of the article is for reference, communication and learning only, and does not constitute investment advice. If it involves copyright issues, please contact us for deletion.
