# India's RBI may need to tap old ways to boost forex reserves, economists say

> The Indian rupee has weakened 9.5% this year as the central bank sold dollars to defend it, depleting forex reserves to $545 billion from a peak of $642 billion a year earlier. Economists say the RBI may need to revert to older tools to rebuild reserves.

- Date: 2022-09-27 · published 2022-09-27T12:00:00.000Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/39850-india-s-rbi-may-need-to-tap-old-ways-to-boost-forex-reserves-economists-say
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

A weaker rupee and shrinking RBI reserves raise India's import costs and can restrain its buying of vegetable oils and meal, a modest bearish signal for demand from the Indian market.

## Read by commodity

- USDINR: bearish ▼

## Sources

- reuters.com: https://www.reuters.com/markets/asia/rbi-may-need-reload-reserves-indian-rupee-falls-further-hdfc-bank-economist-2022-09-27/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.