Forex reserves India: India s forex reserves had declined by around USD 100 billion ever since Russia invaded Ukraine in late February when imports of energy and other commodities got costlier globally.
The rupee steadied by the close of trading on Friday after a turbulent week, tumbling past 81 per dollar to touch a record low earlier in the session, prompting RBI to intervene.
Though the fall in reserves is partly due to valuation changes, analysts believe a large part of the fall has been on account of the RBI's intervention to prevent the rupee from depreciating more sharply.