India

India’s foreign exchange reserve witnesses further dip, Rupee hits all-time low

Reserve Bank of India headquarter. [File Photo]

New Delhi: India’s foreign exchange (forex) reserves dipped by $2.695 billion to $597.728 billion for the week that ended on April 29.

It appears that the Reserve Bank of India (RBI) is selling dollars to prevent a slide in the value of the rupee amid the ongoing Russia-Ukraine conflict and other geopolitical uncertainties, Siasat reported.

On the other hand, the rupee reached a level of Rs 76.93 per dollar. It is near to all-time low of Rs 76.97 per dollar which was recorded in March.

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