India's foreign exchange reserves dipped by $1.18 billion to $695.49 billion for the week ending July 18, knowledge by the Reserve Financial institution of India confirmed on Friday.
Beforehand, India's foreign exchange reserves dipped by $3.06 bn to $696.67 billion for the week ending July 11, knowledge by the Reserve Financial institution of India confirmed on Friday.
Usually, the RBI, every so often, intervenes available in the market by means of liquidity administration, together with by means of the promoting of {dollars}, with a view to stopping a steep depreciation within the rupee. The RBI intently displays the international trade markets and intervenes solely to take care of orderly market situations by containing extreme volatility within the trade charge, regardless of any pre-determined goal stage or band.
