India's foreign exchange reserves dip to 4-month low

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India's foreign exchange reserves dip to 4-month low

STORY: India's foreign exchange reserves dip to 4-month low DATELINE: Sept. 23, 2023 LENGTH: 00:01:18 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of India gate 2. various of Reserve Bank of India 3. various of banks 4. various of market STORYLINE: India's foreign exchange reserves dipped by 860 million U.S. dollars to 593.037 billion dollars during the week ended Sept. 15, showed data released by the country's central bank, the Reserve Bank of India (RBI), on Friday. This was the second consecutive week when the South Asian country's forex reserves declined. During the week ended Sept. 8, the forex decreased by 4.99 billion dollars to 593.90 billion dollars. The current value of forex reserves is said to be at a four-month low. The fall in forex reserves is attributed to the steps taken by the RBI to defend the Indian rupee amid pressures caused majorly by global developments since last year. The foreign currency assets, a major component of the forex reserves, also decreased

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