India Forex Reserves Fall for Fifth Week, Indicating Intervention
Shaktikanta Das
Photographer: Kent Nishimura/BloombergThis article is for subscribers only.
India’s foreign exchange pile decreased for a fifth straight week, indicating the central bank has likely been intervening in the market to battle weakness in the rupee.
Reserves slumped by $2.675 billion to $682.13 billion in the week through Nov. 1, the longest streak of declines since last September.