India’s foreign exchange or forex reserves fell by $3 billion in the last week of August.According to the Reserve Bank of India’s (RBI) weekly supplementary data, the country’s foreign exchange reserves fell by $3 billion to $561.046 billion in the week ending August 26, compared to $564.053 billion in the previous week.
This is the fourth straight week when foreign exchange reserves have continued with their declining trend.India’s forex reserves have fallen by more than $70 billion since the outbreak of the Ukraine-Russia war in February. Also they have slid by more than $80 billion since October 2021.
