News > India's Forex reserves fall to 2-year low of $524 billion
India's Forex reserves fall to 2-year low of $524 billion
The Free Press Journal | 28/10/2022 10:03 PM | Click to read full article
Foreign exchange reserves fell $3.8 billion to a 2-year-low of $524.52 billion in the week ended October 21, data released by Reserve Bank of India (RBI) revealed. This is the lowest level at which foreign exchange reserves have fallen since July 2020.
RBI Governor had earlier said that 67 % of the fall in reserves during the current fiscal was due to revaluation in the face of a stronger dollar.
