New Delhi, July 12 -- As per the report by the Reserve Bank of India (RBI) India's Forex Reserve fell to the mark of $ 699.74 billion. India's foreign exchange reserves refer to the assets controlled by the Reserve Bank of India in foreign currencies. Policymakers monitor these reserves to maintain smooth liquidity inside the domestic economy.
While the news of slipping India's forex reserve didn't affect the market as it came after the record jump of last week. The RBI's weekly statement stressed the fall of foreign currency assets, which is the prime component of the Foreign Exchange Reserve.
Foreign currency assets or FCA are the biggest component of a country's forex reserve, which is valued in dollars but also impacts the movements ...