India's Forex Reserves Dip $9.3 Billion

  Published 9 months ago

India’s forex reserves fell $9.3 billion to $688.9 billion, likely due to the RBI's rupee support amid U.S. tariff threats.

  • RBI possibly sold dollars to stabilize the rupee after the U.S. imposed 25% tariffs on Indian exports.
  • Trump warned of steeper tariffs within 24 hours, citing India’s ongoing Russian oil imports.
  • Economists expect upcoming reserves data to confirm the RBI's intervention amid rising global trade tensions.

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