India’s foreign exchange reserves fell to $532.66 billion in the week through September 30, lowest level since July 2020, the Reserve Bank of India’s (RBI) weekly statistical supplement showed on Friday.
India’s reserves declined for a ninth consecutive week. They were $537.52 billion at the end of the previous week ended September 23.
The rupee breached the key 82 per dollar level on Friday, having weakened for four straight weeks, with traders saying the RBI had likely intervened occasionally over the period to arrest the pace of currency’s fall.
