Viny
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If I am wrong plz tell me how is this happening?
https://defence.pk/pdf/threads/rbi-...assets-decline-19-billion-in-3-months.570883/
India just lost $19 billion in foreign reserves in 3 months oh bad man Modi is depleting reserves just to save his political image. This will hurt really bad to Indian economy. He should let the rupee devalue let the world see the true state of Indian economy and resign instead of doing more damage to the country. Situation is getting worse day by day.
India had 422Bn on 1st April and and 406Bn on 30July, you can get weekly reports from RBI here
https://www.rbi.org.in/SCRIPTS/WSSViewDetail.aspx?TYPE=Section&PARAM1=2
Yes to you it might look scary because thats quite more than your total reserves but for india its around 4% less.
Thats nothing because its a general trend to have fluctuation of 5-8% across the year
Oh during the same period Chinese forex reserve went down by 50bn$, so going by your logic china's doom day is also very very near.