India's forex reserves dip by $9.64 billion, the biggest drop in 2 years

The Indian rupee plunged to a record low of 77.02 against a US dollar on March 7. According to the market analysts, the RBI intervened in the currency markets by selling dollars. The central bank is estimated to have sold $1 billion a day during the week to prevent further weakness in the Indian currency.

from Economy-News-Economic Times https://ift.tt/bw1VNsW
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