Forex reserves decreased by USD 7.5 billion to USD 572.7 billion

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The Reserve Bank of India (RBI) most recent data shows that during the ending week of July 15, India’s foreign exchange reserves decreased by $7.5 billion to $572.7 billion. The reserves have dropped to their lowest level in 20 months, or since November 6, 2020, when they were $568 billion.
The report showed that foreign currency assets, which decreased by $6.5 billion over the week, were the main cause of the reduction in foreign exchange reserves.
Shaktikanta Das, governor of the RBI, stated that the existing level of foreign exchange reserves is sufficient.
According to the July RBI report, the foreign exchange reserves at $580.3 billion on July 8, 2022, were sufficient to cover 9.5 months’ worth of anticipated imports for the years 2022–2033.

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