For the second week in a row, forex reserves ease

Mumbai: For the seven days that ended on April 19, India’s foreign exchange reserves fell by $2.282 billion to $640.334 billion, marking the second consecutive week that the amount fell, the Reserve Bank of India (RBI) said on Friday.

The previous reporting week saw a $5.401 billion decline in reserves to $643.162 billion, bringing a halt to a multi-week pattern of increases. The week ending April 5 saw the total reserves reach a new all-time high of $648.562 billion. The nation’s foreign exchange reserves peaked in September 2021 at $642.453 billion, a record that was surpassed in March of this year.