# India's forex reserves see sharpest weekly drop on record, hit over four-month low

> 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.

- Date: 2024-11-22 · published 2024-11-22T12:00:00.000Z
- Category: macro · region India · magnitude medium
- Page: https://feedsoft.ai/events/27705-india-s-forex-reserves-see-sharpest-weekly-drop-on-record-hit-over-four-month
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

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.

## Read by commodity

- USDINR: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/world/india/indias-forex-reserves-see-sharpest-weekly-drop-record-hit-over-four-month-low-2024-11-22/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.