Forex reserves fall $2.06 billion after eight consecutive weeks of gains

India’s foreign exchange reserves experienced a decrease of $2.06 billion, bringing the total down to $686.06 billion, ending an eight-week streak of gains. This decline was primarily driven by a drop in gold reserves, offsetting a slight increase in foreign currency assets. The RBI’s interventions in the forex market to manage Rupee volatility likely contributed to this fluctuation.