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India’s foreign exchange (forex) reserves stood at $691.5 billion, as of May 30, and are sufficient to fund more than 11 months of goods imports and about 96 per cent of external debt outstanding, RBI Governor Sanjay Malhotra said on Friday.For the week ended May 30, the reserves dropped by $1.2 billion to break an 8-week rising trend. India’s foreign exchange reserves had recorded a robust increase of $6.99 billion to $692.72 billion in the preceding week ended May 23.Changes in foreign currency assets, expressed in dollar terms, include the...

India’s foreign exchange (forex) reserves stood at $691.5 billion, as of May 30, and are sufficient to fund more than 11 months of goods imports and about 96 per cent of external debt outstanding, RBI Governor Sanjay Malhotra said on Friday.For the week ended May 30, the reserves dropped by $1.2 billion to break an 8-week rising trend. India’s foreign exchange reserves had recorded a robust increase of $6.99 billion to $692.72 billion in the preceding week ended May 23.Changes in foreign currency assets, expressed in dollar terms, include the...