Forex reserves decline by $2.2 bln to $550.87 bln in week ending 9 Sept: RBI

India’s foreign exchange reserves (forex) continued to decline due to the sharp plunge in foreign currency assets (FCA). The country’s foreign exchange reserves inched closer to the $550 billion mark. In the week ending September 9, 2022, reserves fell by $2.2 billion. Except for the reserve position in the IMF, other components of the foreign exchange market all decreased during the week under consideration.

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