Rupee falls to all-time low against US dollar
Notably, the rupee dropped to 85.0650 against the US dollar in early trade, compared to 84.9525 on Wednesday.
India’s foreign exchange reserves rose by $2.563 billion during the week ended December 18, RBI data showed.
According to the Reserve Bank of India’s weekly statistical supplement, the reserves increased to $581.131 billion from $578.568 billion reported for the week ended December 11.
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India’s forex reserves comprise of foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs), and the country’s reserve position with the International Monetary Fund (IMF).
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On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $1.382 billion to $537.727 billion.
However, the value of the country’s gold reserves increased by $1.008 billion to $37.020 billion.
Besides, the SDR value stood higher by $12 million at $1.515 billion.
In addition, the country’s reserve position with the IMF increased by $160 million to $4.870 billion.
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