India’s Forex Reserves Rise By USD 1.98 Billion To USD 688.13 Billion In April 25 Week, Says RBI
Despite the recovery in reserves, the Indian Rupee remains at or near its all-time low against the US dollar. The RBI continues to intervene in the foreign exchange market by selling dollars to prevent steep depreciation of the currency. India’s foreign exchange reserves increased by USD 1.983 billion to reach USD 688.129 billion during the week ending April 25, according to official data released by the Reserve Bank of India (RBI). This marks the eighth consecutive weekly increase in the reserves. However, the reserves still remain below the all-time high...