India’s foreign exchange reserves rose by $2.3 billion to $703.30 billion for the week ending April 17, reversing some of the drawdown seen earlier. The depletion followed pressure on the rupee after the Middle East conflict, when RBI intervention helped stabilize currency swings. Reserves were last at an all-time high in February 2026.
India’s GDP growth outperformed expectations, rising to 8.2% for FY24. For the January to April quarter, growth accelerated to 7.8% compared with 6.2% in the same period last year. Economists say the surprise in the print could signal stronger momentum across sectors heading into the next fiscal stretch.
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India’s external outlook is deteriorating as dollar liquidity tightens, the rupee weakens, and trade gaps widen. Stable foreign investment is being replaced by more volatile flows, while the “quality” of capital improves less reliably than before. The result is a renewed balance of payments focus, with risks rising for currency stability and macro management.
Bitcoin has rebounded to around $70,000 after a sharp drop to roughly $62,000, as a wave of liquidation forced out leveraged long positions. While major altcoins moved in mixed directions, global crypto market cap inched higher. Still, traders remain cautious, weighing macro risks and interest-rate expectations before committing to fresh bets.
Bitcoin fell to around $91,000 as escalating US–EU trade tensions sparked risk-off sentiment. Broader crypto prices stayed subdued, with liquidations moving through leverage-heavy positions. Analysts say the market is still consolidating in a wide range, and that the next major direction may hinge on macro data and policy cues rather than crypto-specific news.
RBI Governor Shaktikanta Das says the global economy is entering a fresh storm, with financial markets across countries thrown into turmoil. He notes stress is showing up across equity, bond and currency segments. Despite the global volatility, Das adds that economic activity in India remains stable, offering some cushion for the domestic outlook.
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