Forex Reserves | Forex stocks are at a two year low.. because

Forex Reserves | Forex stocks are at a two-year low.

Forex Reserves | Foreign exchange reserves in the Indian forex market fell to record lows. Forex reserves fell by $ 9.646 billion to $ 622.275 billion for the week ended November 11. This is equivalent to a minimum of about two-thirds. For the week ended March 20, 2020, forex reserves lost $ 11.108 billion ($ 11.9 billion) to $ 554.359 billion.

On the seventh day of this month, the rupee depreciated to an all-time low of Rs. The rupee had closed at 77.02 against the dollar on the seventh day of the month. With this, the RBI intervened and put $ 100 crore into the market, keeping the rupee from depreciating.

The rupee exchange rate fell to an all-time high as crude oil prices rose and Russia’s military action against Ukraine increased and foreign institutional investors withdrew funds from equities. Forex reserves rose to $ 642.453 billion in the week ended September 3 last year. The same is true in recent times.