Forex reserves ease for 2nd consecutive week

Mumbai: India’s forex reserves decreased $2.282 billion to $640.334 billion for the seven days ended April 19 in the second consecutive week of drop in the kitty, the Reserve Bank of India (RBI) said on Friday.

The reserves had dropped $5.401 billion to $643.162 billion in the previous reporting week, ending a multi-week trend of an increase, which also saw the overall reserves touching a new all-time high of $648.562 billion for the week ended April 5. In September 2021, the country’s forex kitty had reached a high of $642.453 billion, which was breached in March this year.