📌 Breaking News: 🇮🇳 India’s Forex Reserves Fall by $6.7 Billion to $717 Billion — RBI
⚠️ What happened:
▸ The Reserve Bank of India (RBI) reported that foreign exchange reserves declined by $6.7B
▸ The current level stands at approximately $717B
▸ The decline is linked to a drop in gold holdings and foreign currency assets
⚡️ Why it matters:
▸ Forex reserves are crucial for managing exchange rates and maintaining financial stability
▸ A continued decline could put pressure on the Indian rupee (INR)
▸ However, the $717B level remains high, indicating a strong buffer for India’s economy
