India’s foreign exchange reserves fell by $9.64 billion to $622.275 billion during the week ending March 11, 2022, as the rupee depreciated against the US dollar amid the rise in crude oil prices and capital outflows due to sustained selling by foreign portfolio investors (FPIs). This is the biggest fall in reserves in nearly two years after it plunged by $11.98 billion during the week ending March 20, 2020, when the Covid-19 pandemic hit India and FPIs pulled out funds.

#forexexchange #reservefell #indiarupee #crudeoilprices #FPI

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