India's overseas alternate reserves decreased by $396 million to $702.57 billion as on September 19, information launched by the Reserve Financial institution of India (RBI) confirmed on Friday.
The reserves had surged by $4.69 billion to $$702.9 billion for the week ending September 12; whereas it had touched a report excessive of $704.885 billion in end-September 2024.
The RBI, sometimes, intervenes within the foreign exchange market via liquidity operations — together with the sale of {dollars} — to curb sharp volatility within the rupee. Officers emphasize that such interventions are geared toward sustaining orderly market situations reasonably than concentrating on a selected alternate charge stage or band.
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