ANI
23 Sep 2022, 23:48 GMT+10
Mumbai [India], September 23 (ANI): India's foreign exchange reserves declined for a seventh straight week, touching $545.652 billion in the week ending September 16, Reserve Bank of India's data showed on Friday.
In the previous week ending September 9, the foreign exchange reserves stood at $550.871 billion. The reserves have dropped by $5.22 billion to hit the lowest level since October 2, 2020, RBI's weekly statistical supplement showed on Friday.
In the week ending September 16, the foreign currency assets stood at $484.901 billion, gold reserves at $38.186 billion and special drawing rights at $17.686 billion.
The foreign exchange reserves stood at $550.871 billion at the end of the previous week.
The Indian rupee on Friday fell 41 paise to all-time low of 81.20 against US dollar in early trade on the back of US Treasury yields climbing to fresh multi-year highs and dollar demand from importers.
At 09:25 am IST, the local currency was trading at 81.13. The rupee had plunged 1.1 per cent against the dollar on Thursday, closing at a record low of 80.87 per dollar.
Experts said that a large part of the decline has been on account of the Reserve Bank of India's intervention in the currency market though the fall in reserves is partly due to valuation changes.
The Indian stock market's key indices, Nifty and Sensex, dropped by nearly 2 per cent on Friday, leading to an erosion of more than Rs 4 lakh crore of investors' wealth amid weak global cues after the US Federal Reserve signalled an aggressive increase in interest rate to control inflation.
The 30 stock SP BSE Sensex slumped 1020.80 points or 1.73 per cent to 58,098.92 points against its previous day's close at 59,119.72 points. (ANI)Get a daily dose of Shanghai Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Shanghai Sun.
More InformationRALEIGH/COLUMBIA: Dry weather, strong winds, and fallen trees from Hurricane Helene have sparked wildfires in North Carolina and South...
GENEVA,.Switzerland - The International Federation of Red Cross and Red Crescent Societies (IFRC) has expressed profound outrage following...
RIYADH, Saudi Arabia: Tesla is finally entering Saudi Arabia, with a launch scheduled for next month—marking a significant shift in...
BRUSSELS, Belgium: Apple appears to have dodged a major regulatory setback in Europe, following recent changes to how users select...
WASHINGTON, D.C: FBI Director Kash Patel said this week the bureau was probing what he called the increase in violent activity toward...
GAZA - Israel is refusing to allow search parties to access an area where 9 Red Cross ambulance crew members have gone missing in Gaza....
SHANGHAI, China: As global demand for electric vehicles continues to rise, China's BYD is looking to double its overseas sales to over...
BEIJING, China: As global tech firms navigate rising geopolitical tensions, China has extended a warm signal to Apple, one of its most...
New Delhi [India], April 1 (ANI): Indian stocks faced heavy selling pressure on Tuesday's opening as both indices fell amid the April...
Ujjain (Madhya Pradesh) [India], March 31 (ANI): A drone light show held at Vikramotsav in Madhya Pradesh's Ujjain district on the...
Mumbai (Maharashtra) [India], March 31 (ANI): The Indian stock markets remained closed on Monday in observance of Eid-ul-Fitr celebrations,...
(Photo credit: Jim Dedmon-Imagn Images) MARTINSVILLE, Va. -- Denny Hamlin won Sunday's Cook Out 400 at Martinsville Speedway, beating...