Economic Times4/24/2026BusinessIndia
India's Forex Reserves Rise $2.3 Billion to $703 Billion; Rupee Slips 14 Paise
RBI likely intervened to stabilize currency as dollar demand from foreign investors and oil companies pressured the rupee
Quick Look
- India's foreign exchange reserves increased by $2.3 billion to reach $703 billion in the week ended April 17, driven by foreign currency assets and dollar asset revaluation.
- The Indian rupee weakened 14 paise to close at 94.25 against the dollar, with traders indicating the Reserve Bank of India likely sold dollars to prevent further depreciation amid dollar demand from foreign investors and private oil companies.
AI-generated summary
Font size
India's foreign exchange reserves increased by $2.3 billion to reach $703 billion in the week ended April 17, driven by foreign currency assets and dollar asset revaluation. The Indian rupee weakened 14 paise to close at 94.25 against the dollar, with traders indicating the Reserve Bank of India likely sold dollars to prevent further depreciation amid dollar demand from foreign investors and private oil companies.
Related Topics
This article was originally published by Economic Times.
