Context:
India’s foreign currency expenditure shrank 14% to USD 2.4 billion in October, marking the lowest influx since June 2024.
Key Highlights:
- Domestic credit card spending reaches R.s 2 lakh crore and UPI transactions reach R.s 23.4 lakh crore.
- UPI transactions also significantly increased to ₹23.4 lakh crore.
Foreign currency expenditure
Foreign currency expenditure is an expense incurred in a foreign currency, such as when a business makes regular payments in a foreign currency for imports or exports.
