India's forex reserves fell the most among emerging economies: Report

As the Reserve Bank of India (RBI) sold dollars to arrest the fall of the Indian Rupee, India's forex reserves depleted the most among all emerging economies. Since the beginning of 2022, India's reserves have fallen 13.88 per cent from $633.6 billion to $545.6 billion, according to a report in BusinessLine (BL).

After India, Russia's forex reserves fell over 10 per cent, followed by Indonesia's 9.19 per cent. On the other hand, Taiwan's foreign reserves fell the least, only 0.53 per cent. 

However, RBI's steps have been able to limit the fall in the rupee. The rupee proved to be more