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India's foreign exchange reserves fell below $550 billion for the first time in nearly two years, marking the seventh straight week of declines.
India's forex reserves have nosedived over $80 billion since the Ukraine crisis, with more than $2 billion fall in the latest week.
India's forex reserves slumped to the lowest in over two years, marking the third straight week of decline as the RBI intervened to keep the rupee from weakening past 80 per dollar.
India's foreign exchange reserves slumped by over $2 billion in the week ending August 12, as the Reserve Bank of India intervened to shore up the rupee and keep the currency below 80 per dollar.
Forex reserves rose by $2.315 billion to $573.875 billion in the week ending July 29