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India's foreign exchange reserves logged their sharpest weekly fall on record, dropping to a more-than-four-month low in the week to November 22. The decline followed the dollar's strength after the US election, and the central bank sold reserves to limit the rupee's fall.
Heavy central bank dollar sales show the cost of defending the rupee, which may limit how far the central bank can keep intervening. Weaker reserves could support further rupee depreciation and higher import costs.
reuters.comSiddhi NayakNov 22, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
