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India's forex reserves drop to lowest since July 2020

The rupee hit a record low of 83.29 per dollar in that turbulent week, and traders said the RBI had intervened in both the spot and forward markets to contain the slide.

Published on: Oct 28, 2022, 21:01:27 IST
Reuters | Posted by , Mumbai
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India's foreign exchange reserves fell to $524.52 billion in the week through Oct. 21 to remain at their lowest since July 2020, the Reserve Bank of India's (RBI) weekly statistical supplement showed on Friday.

The rupee ended 0.25% higher at 82.47 per dollar this week, ending a run of six straight weeks of declines. (HT_PRINT)
The rupee ended 0.25% higher at 82.47 per dollar this week, ending a run of six straight weeks of declines. (HT_PRINT)

The rupee hit a record low of 83.29 per dollar in that turbulent week, and traders said the RBI had intervened in both the spot and forward markets to contain the slide.

The country's reserves were $528.37 billion at the end of the previous week that ended October 14.

The rupee ended 0.25% higher at 82.47 per dollar this week, ending a run of six straight weeks of declines.

 
ABOUT THE AUTHOR
Sharangee Dutta

A journalist with 7+ years of experience, I pretty much inhale and exhale news – figuratively speaking. Cooking, reading and playing with my dog take up the remaining hours of my normal day. I have an inclination for true crime stories, and love listening to such podcasts.

Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.
Stay updated with the latest Business News, stock market updates, petrol and diesel prices, gold and silver rates, income tax updates and major developments from India and across the world.
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