Forex Reserves are regarded as a country’s health meter and insurance cover. But as you can see Indian forex reserves are declining day by day. The primary reason behind the fall in the forex is the depreciation of the Indian Rupee in front of the US Dollar, Higher crude oil prices, etc. So RBI uses forex reserves to support the rupee and cope with the high oil prices.
So let’s look at the post to learn more about the Declining Forex Reserves.
Credits: Huzefa Kapdawala & Abhishek Yadav