In the week ending September 11, India’s foreign exchange reserves fell by $4.9 billion, bringing the total down to $780.7 billion from a previous high of $785 billion. This downturn is largely attributed to diminishing gold reserves' valuations. Analysts suggest that most inflows from FCNR(B) awaiting conversion have likely been completed.
Market Samachar is a news aggregator. This article was originally published by Markets-Economic Times. Tap the button above to read the full story on their site.