India’s central bank is prepared to sell a sixth of its foreign exchange reserves to defend the rupee against a rapid depreciation after it plumbed record lows in recent weeks, a senior source aware of the central bank’s thinking told Reuters. The rupee has lost over seven per cent of its value in 2022 and weakened past the psychological level of …
Read More »India central bank prepared to spend $100bn more defending rupee: source
July 20, 2022