India's foreign exchange reserves witnessed a significant decline, dropping by $18.34 billion to a total of $747.56 billion as of September 25. This sharp decrease was reported by the Reserve Bank of India (RBI). The RBI's report revealed that foreign currency assets diminished by $15.57 billion, while gold reserves fell by $2.591 billion. Additionally, SDRs decreased by $97 million, and the IMF's reserve position saw a drop of $86 million.
As the country navigates these economic challenges, the Indian Meteorological Department (IMD) has issued alerts for heavy rainfall in several states, including Delhi, Punjab, and Haryana.
