India's Forex Reserves Fall For Nine Weeks In Row Says RBI

India's forex reserves dropped by $4.9 billion and the country's reserves declined for a ninth consecutive week for the week ended September 30, 2022. They were $537.52 billion at the end of the previous week. The fall in the foreign exchange reserves can be attributed to a fall in the Foreign Currency Assets (FCA), which is a major component of the overall reserves, according to the Weekly Statistical Supplement released by RBI. Foreign currency assets fell $4.41 billion to $472.81 billion for the same period.

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