From the end of March 2018 to August 3, India's foreign exchange reserves were down by $21.84 billion to $402.70 billion
To stem the fall in the currency's value, the central banks across the world are raising interest rates, triggered by rising US interest rates and a rising dollar
The rupee hit an all-time low of 70.1 to a US dollar earlier on Tuesday on concerns over Turkey's economic woes
A weaker currency complicates the central bank's job of keeping prices in check as it makes imports costlier
Rupee may fall further if global concerns, including US's protectionist measures against countries such as Turkey and China, persist.
The fall in the broader market was sharper, with two stocks declining for every one advancing on the BSE
On Friday, the rupee had lost 15 paise to end at 68.83 against the resurgent dollar
The Indian rupee has lost more than 6.5 per cent and has hit its lifetime low of 69.10 a dollar in June-end
The rupee drew strength from rallying domestic equities, a dealer said
The RBI raised repo rate by 25 basis points to 6.5 per cent amid inflationary concerns
Policy meetings of the US Federal Reserve (today) and Bank of England (tomorrow), are also keeping investors cautious
The Reserve Bank of India's Monetary Policy Committee (MPC) for the third bi-monthly monetary policy statement will be unveiled on Wednesday
Reserves are still strong enough to cover more than nine months of import needs
Yesterday, the rupee had gained 13 paise to close at a fresh one-week high of 68.66 against the US dollar
Foreign investors have this year pulled $4.4 billion from India, including $2.8 billion in May alone amid rising inflation and oil prices
The rupee rose to 69.12 from Thursday's record closing level of 69.05 at the interbank foreign exchange
Emirates' rupee forecasts -- 67.5 to the dollar by end-September and 67 by end-2018 -- are at odds with a bleak broader outlook for the currency
Capital outflows, sparked by India's widening current-account deficit and the risk-off mood that's roiled emerging markets recently, have put the rupee under pressure
The tariff war imposed by the US on Chinese goods, estimated at $34 billion starting Friday, has forced the Chinese currency to depreciate
He also said the country has significant foreign exchange reserves