RBI has burned about $60B of FX reserves in six weeks defending the rupee, with reserves down to $726B from a $785.7B peak. That is a costly defense: FPIs have pulled $26.8B YTD and the latest weekly

What happened: RBI's foreign exchange reserves fell to $726 billion on Oct 9 from $785.7 billion on Sept 4, a drain of about $60 billion in six weeks as the central bank defended the rupee. Key numbers: Reserves $726 b on Oct 9 vs $785.7 b on Sept 4; $8.58 b depletion in the latest reporting week alone. Why it matters: The headline frames the rupee defence as coming at a cost, with the reserve drain concentrated in a single reporting week.

RBI's foreign exchange reserves fell to $726 billion on Oct 9 from $785.7 billion on Sept 4, a drain of about $60 billion in six weeks as the central bank defended the rupee.

The headline frames the rupee defence as coming at a cost, with the reserve drain concentrated in a single reporting week.