The latest marks the fourth straight week of decline in forex reserves and down for 21 out of 27 weeks since Russia invaded Ukraine, the biggest drawdown since the financial crisis.
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.