Why is there a fall in India’s foreign exchange reserves?

The Indian rupee hit an all-time low against the U.S. dollar this week weakening past the 77 rupees to a dollar mark and selling at 77.63 against the dollar on Thursday. Many analysts expect the rupee to weaken further in the coming months to hit the 80 rupees to a dollar mark. In fact, the International Monetary Fund expects the rupee to weaken past the 94 rupees to a dollar mark by FY29. (Read More)