India’s forex reserves fall $11.68 billion to $716.81 billion, biggest drop in over a year

Indias foreign exchange reserves took a notable hit, plummeting to $716.81 billion as of the week ending March 6. The Reserve Bank of Indias decision to conduct dollar sales in a bid to defend the rupee from external economic challenges significantly influenced this downturn. Analysts have highlighted the increased yields in the U.S.