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India's forex reserves dip about $5 billion in week ending May 16
Galaxy News
|27-05-2025
India's foreign exchange reserves (forex) dipped USD 4.888 billion to USD 685.729 billion in the week ending May 16, official data released by the Reserve Bank of India (RBI) showed.
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Estimates suggest that India's foreign exchange reserves sufficiently cover approximately 10-12 months of projected imports. Even with this weekly loss, the forex kitty is quite close to its all-time high of USD 704.89 billion, reached in September 2024. Recently, forex reserves extended gains for the eighth straight week, helping them inch closer to their previous peak after a consistent slump for about four months. The l
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