India Forex Reserves Fall for 4th Month

Foreign exchange reserves held by the Reserve Bank of India fell to $684.8 billion as of October 25th, 2024, marking the fourth consecutive decline since the record high of $704.9 billion in the last week of September.

The drop was owed to an outflow of foreign capital as heightened geopolitical tensions in the Middle East and investors’ preference toward Chinese assets after Beijing’s stimulus announcements, in line with a rebound in G-Sec yields and the pullback on the Sensex.