India’s forex reserves see sharpest rise in 2 years
After the $10 billion forex swap undertaken by the central bank on February 28, when it bought dollars against rupee to inject liquidity in the system, the country's foreign exchange reserves saw a huge $15.267 billion spike during the week ended March 7.
The rupee dropped by 14 paise to 64.69 against the dollar at the interbank forex market on Monday amid fresh foreign fund outflows.