Reserves had risen by nearly $50bn in the nine weeks preceding the reporting week


MUMBAI (Reuters): India’s foreign exchange reserves declined by $2.07 billion, to $686.06 billion as of May 2, snapping an eight-week gaining streak that had lifted reserves to a near six-month high, data released by the central bank on Friday showed.
The reserves had risen by nearly $50 billion in the nine weeks preceding the reporting week and are now about $19 billion below the all-time high of $704.89 billion hit in late September 2024.
Changes in foreign currency assets, expressed in dollar terms, include the effect of appreciation or depreciation of other currencies held in its reserves.
For the week to which the reserves data pertains, the rupee had risen about 1%, bolstered by inflows into Indian equities and optimism about a U.S.-India trade deal.
The rupee closed at 85.37 per dollar on Friday, down 0.9% on the week on the back of depreciation pressure sparked by the conflict between India and Pakistan.
Iran warns US will be held responsible for any Israeli strike
- 10 hours ago

350,000 people are losing protection from deportation
- 19 minutes ago

Microsoft’s AI security chief accidentally reveals Walmart’s AI plans after protest
- 2 hours ago

MJ jersey from '92-'93 season sells for $2.6M
- an hour ago

Netflix is turning mobile blockbuster Clash of Clans into an animated series
- 2 hours ago

The ugly truth about Trump’s big, beautiful bill
- 19 minutes ago

The most powerful laser in the US recently produced 2 quadrillion watts of power
- 2 hours ago

Epic’s Mega sale has big discounts on games like GTA V, Red Dead Redemption, and Cyberpunk 2077
- 2 hours ago

Singer Chris Brown granted bail in London assault charges
- 10 hours ago
Landslides in China’s Guizhou province leave 4 dead, 17 missing
- 10 hours ago

Palestinian developer disrupts Microsoft keynote: ‘my people are suffering’
- 2 hours ago

Clark, new-look Fever rout Sky in chippy opener
- an hour ago