{"id":273344,"date":"2022-07-25T09:30:39","date_gmt":"2022-07-25T04:30:39","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=273344"},"modified":"2022-07-25T09:30:39","modified_gmt":"2022-07-25T04:30:39","slug":"indias-forex-reserves-at-20-month-low","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/indias-forex-reserves-at-20-month-low\/","title":{"rendered":"India\u2019s forex reserves at 20 month low"},"content":{"rendered":"

India\u2019s reserves fell to a 20-month low following heavy intervention by the central bank in the forex market as it sold dollars to prevent a sharp depreciation of the rupee
\n New Delhi
\nIndia\u2019s foreign exchange reserves fell by $7.5 billion to $572 billion during the week ended July 15, according to data released by the Reserve Bank of India (RBI).
\nReserves fell to a 20-month low following heavy intervention by the central bank in the forex market as it sold dollars to prevent a sharp depreciation of the rupee, reports the Times of India.
\nThe Indian forex reserves were last at $572 billion in November 2020. Since then, they had risen to a high of $642 billion in October 2021. The RBI is believed to have sold over $50 billion to stem the volatility in the foreign exchange market.
\nIn the interbank foreign exchange market, the rupee closed 10 paise stronger at 79.85 as against Thursday\u2019s close of 79.95. The rupee firmed up even as foreign institutional investors were net sellers in the equity market on Friday.
\nThe dollar index, which measures the greenback\u2019s strength against a basket of six currencies, was up 0.2% at 107.1.
\nFormer chief statistician of India Pronab Sen told the Times of India: \u201cIt is more of a story of the dollar strengthening than the rupee weakening.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

India\u2019s reserves fell to a 20-month low following heavy intervention by the central bank in the forex market as it sold dollars to prevent a sharp depreciation of the rupee New Delhi India\u2019s foreign exchange reserves fell by $7.5 billion to $572 billion during the week ended July 15, according to data released by the […]<\/p>\n","protected":false},"author":2,"featured_media":273362,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[5367,195,9471],"class_list":{"0":"post-273344","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-forex","9":"tag-india","10":"tag-reserves"},"yoast_head":"\nIndia\u2019s forex reserves at 20 month low<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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