Re hits 81/$ for 1st time, forex kitty shrinks $97bn from peak

The rupee breached the 81 level against the dollar for the first time on Friday as markets turned jittery after the Fed's rate hike and escalation of hostilities in Ukraine. The RBI continued to defend the rupee even as reserves dipped to $546 billion, down by $5 billion during the week ended September 16, and $97 billion lower from their peak levels of $642 billion last year. Via Times of India https://ift.tt/tLnPXG9