India's forex reserves fall for 7th straight week to $545 billion; Lowest since October 2020
Updated: 23 Sep 2022, 05:34 PM IST
TL;DR.Though the fall in reserves is partly due to valuation changes, analysts believe a large part of the fall has been on account of the Reserve Bank of India's intervention in the currency market to prevent the rupee from depreciating more sharply against dollar.
FILE PHOTO: U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo