India’s Forex Reserves Fall For Fifth Week Amid RBI Interventions

India’s foreign exchange reserves declined by $2.675 billion to $682.130 billion for the week ending November 1, marking the fifth consecutive drop. This decrease follows a trend of falling reserves from a peak of $704.885 billion, likely due to RBI interventions to stabilize the rupee. Despite the decline, reserves remain sufficient to cover nearly one year of imports.