Rupee keeps off 80 per dollar; foreign exchange reserves at 15-month low

The latest data showed that the RBI's headline foreign exchange reserves declined by $8.1 billion in the week ended July 8

The rupee on Friday came within touching distance of the 80 per dollar-mark but managed to recover ground and settle flat versus the greenback because of corporate inflows and likely interventions by the Reserve Bank of India (RBI), dealers said.
 
The country’s foreign exchange reserves had declined by $8 billion in the week ended July 8 to hit a 15-month low of $580.25 billion as the central bank stepped up its intervention in the forex market to slow down the pace of the rupee’s fall. Reserves have fallen by $62 billion from their peak in September last year.