MUMBAI: The rupee closed at a record low of 85.77 against the dollar on Friday, marking its ninth consecutive week of losses. The decline is attributed to the drop in the Chinese yuan, which weakened past the 7.3 mark, as well as the dollar’s rise.The rupee hit its lowest intraday level at 85.80, before settling…
NEW DELHI: India’s foreign exchange reserves declined by $4.112 billion to $640.279 billion for the week ending December 27,according to the Reserve Bank of India (RBI) on Friday.This follows a previous decline of $8.478 billion, bringing the total to $644.391 billion, in last week ending on December 20.Recent weeks have shown a consistent decrease in…
MUMBAI: Foreign exchange reserves dropped for a third straight week, reaching $688.2 billion as of Oct 18, according to RBI data. The reserves fell by nearly $2.2 billion during the week, following a $14.5 billion decline over the two weeks before. The impact of the drop in reserves was moderated by close to a $1.8…
