India's Forex Reserves Plunge $11.68 Billion, Fastest Drop in 16 Months

• India's forex reserves fell by $11.683 billion to $716.810 billion in the week ending March 6.
• This marks the sharpest decline in reserves in approximately 16 months, since November 15, 2024.
• The drop was primarily due to a decrease in Foreign Currency Assets (FCA) by $9.880 billion.
• Gold reserves also saw a decline of $1.612 billion during the same period.
• Despite the fall, India's reserves remain strong, providing a buffer against external shocks like the Iran crisis.