India’s foreign exchange reserves saw a decline by dipping by $3.4 billion to $684.8 billion as of October 25, according to data shared by the Reserve Bank of India (RBI) on Friday.
Typically, the RBI, from time to time, intervenes in the market through liquidity management, including through the selling of dollars, with a view to preventing a steep depreciation in the rupee.
The RBI closely monitors the foreign exchange markets and intervenes only to maintain orderly market conditions by containing excessive volatility in the exchange rate, without reference to any pre-determined target level or band.
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