FOREX RESERVES TANK $18 BILLION, RUPEE SLIPS
The New Indian Express|November 23, 2024
INDIA's foreign exchange (forex) reserves have seen the sharpest weekly dip on record, losing $17.76 billion for the week ended November 15 as the dollar continued to rally leading to immense pressure on the rupee. Which forced the Reserve Bank of India to sell the greenback to stem the slide.
BENN KOCHUVEEDAN
FOREX RESERVES TANK $18 BILLION, RUPEE SLIPS

Forex reserves have slipped nearly $30 billion in the past seven weeks. The reserves are down $47 billion from the record high of $704.89 billion reported on September 27.

Traders said RBI intervention in the forex market repeatedly to save the rupee.

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