India's Forex Reserves Down By $6 Bn: RBI

The RBI on Friday said that India's foreign exchange reserve have decreased by USD 6.052 billion, to USD 593.477 billion during the week ending 19 May. A decrease in the kitty has ended two weeks of growth.
The total reserves have climbed by USD 3.5 billion from the previous reporting week, bringing the total amount to little under USD 600 billion.
It may be recalled that the country's foreign exchange reserves hit an all-time high of USD 645 billion in October 2021. The reserves have been dropping, as the central bank uses its funds to defend the rupee against pressures mostly brought on by international events.
According to the Weekly Statistical Supplement provided by the RBI on Friday, the foreign currency assets, a significant part of the reserves, decreased by USD 4.654 billion to USD 524.945 billion for the week ending 19 May, 2023.