News > In 5th straight weekly fall, India's forex reserves dip by $2.47 billion

In 5th straight weekly fall, India's forex reserves dip by $2.47 billion

India's foreign exchange reserves dipped by $2.47 billion last week, registering the fifth straight week of fall, as the RBI appears to keep selling dollars to prevent a slide in the value of the rupee amid high import bills for petroleum products.

According to the RBI's weekly statistical supplement, India's forex reserves fell by $2.471 billion to $604.004 billion for the week ended April 8.