Business Standard

Rupee hits all-time low; foreign exchange reserves below $600 billion

Double-digit BoP deficit seen in FY23, says Standard Chartered

Photo: Brent Lewin/Bloomberg

Rupee has depreciated 1.5 per cent in the current financial year

Manojit Saha Mumbai
Rupee slipped to 76.97/$ during intra-day deals on Friday, hitting its all-time low before rebounding following a possible intervention by the Reserve Bank of India (RBI). The country’s foreign exchange reserves, too, dropped to $598 billion for the week ended April 29, down from its all-time high of $642 billion in the week ended September 3, 2021, latest RBI data showed.

The rupee ended the day at 76.93/$, dropping 67 paisa or 0.87 per cent from its previous close. The rupee opened weaker on Friday, at 76.64/$ as compared to previous close of 76.26, in the wake of sharp fall

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: May 06 2022 | 1:52 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to