Forex reserves drop to $781 billion after hitting a peak of $785 billion
In the week ending September 11, India’s foreign exchange reserves fell by $4.9 billion, bringing the total down to $780.7 billion from a previous high of $785 billion. This downturn is largely attributed to diminishing gold reserves' valuations. Analysts suggest that most inflows from FCNR(B) awaiting conversion have likely been completed.
We haven't written up this one. The Economic Times - Top News has the full story — the link below goes straight to it.
