India's foreign exchange reserves declined by $7.511 billion to $681.384 billion for the week ended May 22, according to the latest data released by the Reserve Bank of India. This marks the second consecutive weekly decline and takes the country's forex reserves to their lowest level in more than a year.
Arvind Panagariya has advised the Reserve Bank of India not to let the rupee approaching Rs 100 against the US dollar dictate monetary policy decisions. In a post on X, Panagariya said the “psychology” surrounding the Rs 100 mark should not influence policy responses
