India's forex reserves plunge by $25 bn since April peak
India's forex reserves have declined by $25.147 billion between April 13 and August 10 amid speculation that RBI sold dollars to defend the rupee. The forex reserves had touched a record high of $426.028 billion in the week to April 13. Notably, the rupee had closed at a historic low of 70.15 to the US dollar on Thursday.