Forex reserves fall by $12 bn to $499 bn; rupee hits all-time low: RBI data

The reserves had touched a life-time high of $487.23 billion in the week to March 6, after it rose by $5.69 billion

The country's foreign exchange reserves fell by a whopping $11.98 billion to $469.909 billion in the week to March 20 as the Reserve Bank continued to supply dollars into the market to stem fall in the rupee.

The rupee hit an all-time low of 76.15 against the US dollar on March 23 as foreign investors continued to withdraw money from domestic equity and debt market amid uncertainties due to the fast-spreading coronavirus.

In the previous week, the country's foreign exchange reserves fell by $5.346 billion to $481.89 billion. This was the first decline in the country's reserve in almost six months.

The reserves