India’s foreign exchange reserves fell to $625.87 billion, down by $8.714 billion as of the week ending January 10, 2025, the Reserve Bank of India data showed on Friday.
The country’s forex reserves had dropped by $5.6 billion for the week ending January 3, 2025 and had settled at $634.59 billion.
India’s forex kitty
The RBI, from time to time, intervenes in the market through liquidity management, including through the selling of dollars, with a view to preventing a steep depreciation in the rupee.
The RBI closely monitors the foreign exchange markets and intervenes only to maintain orderly market conditions by containing excessive volatility in the exchange rate, without reference to any pre-determined target level or band.
