India’s foreign exchange reserves fell by more than a two-year low to $532.66 billion, according to data from the Reserve Bank of India

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New Delhi: In the week ending September 30, India’s foreign exchange reserves fell to $532.66 billion, the lowest since July 2020, according to the Reserve Bank of India’s (RBI) weekly statistics supplement.

The country’s reserves fell for the eighth consecutive week. At the end of the previous week, which ended on September 23, it was worth $537.52 billion.

After dropping for four consecutive weeks, the rupee breached the 82 per dollar barrier on Friday. Traders noted that the Reserve Bank of India may have intervened periodically throughout that time to slow the currency’s decline.



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