# Rupee Falls to 94.97 as India’s Reserves Decline in Week to Oct. 23 | EconoTimes

> The rupee reached 94.97 per dollar in early trade on November 2, 21 paise weaker than the October 30 close. The Reserve Bank of India reported that forex reserves fell $1.269 billion to $719.748 billion in the week through October 23.

- Date: 2026-11-02 · published 2026-11-02T06:10:41.139Z
- Category: macro · region India · magnitude low
- Page: https://feedsoft.ai/events/74959-rupee-falls-to-94-97-as-india-s-reserves-decline-in-week-to-oct-23-econotimes
- Commodities: [Indian Rupee (INR per USD)](https://feedsoft.ai/c/USDINR.md)

## Why it matters

Declining reserves reflect central bank intervention to defend the rupee, which limits how far it can weaken and keeps import costs for feed ingredients somewhat contained. Continued drawdowns would raise the risk of a sharper depreciation.

## Read by commodity

- USDINR: neutral

## Sources

- econotimes.com: https://econotimes.com/Rupee-Falls-to-94-97-as-India-s-Reserves-Decline-in-Week-to-Oct-23-1768473

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