India’s forex reserves hit a new low, RBI forced to spend $118 billion to defend INR

India’s forex reserves hit a new low: For the week ending October 14, India’s foreign exchange reserves (Forex Reserves) further declined to a level not seen in more than two years as the country’s central bank,┬áReserve Bank of India (RBI) continued to defend the rupee’s decline while disregarding the serious threat posed by dwindling foreign … Continue reading India’s forex reserves hit a new low, RBI forced to spend $118 billion to defend INR