scorecardresearchIndia’s Forex Reserves Fall to Lowest in More Than 20 Months

India’s Forex Reserves Fall to Lowest in More Than 20 Months

Updated: 24 Jul 2022, 09:27 AM IST
TL;DR.
India’s foreign exchange reserves fell to their lowest in over 20 months as the central bank stepped up its intervention to protect the rupee from tumbling past 80 a dollar.
While the focus remains on the US dollar, it is worth pointing out that against other major currencies, including the euro, yen, and sterling, the rupee has strengthened, not weakened, this year (Shutterstock)

While the focus remains on the US dollar, it is worth pointing out that against other major currencies, including the euro, yen, and sterling, the rupee has strengthened, not weakened, this year (Shutterstock)