India's FX reserves fall for fourth week, down $50 billion from September peak

India's foreign exchange reserves have fallen for the fourth consecutive week to $734.6 billion. This decline follows a recent peak of $785.71 billion on September 4. The Reserve Bank of India has intervened in the market to support the rupee's value amid rising pressures. Elevated oil prices, increasing US Treasury yields, and foreign equity outflows are contributing to the rupee's depreciation. On Wednesday, the rupee declined nearly 0.