India's foreign exchange reserves fell by how many billion to $566.94 billion in the week ending February 10, 2023?

Today General Knowledge(GK)

$6.46 Billion

$7.08 Billion

$7.69 Billion

$8.31 Billion

Correct Answer : Option (D) - $8.31 Billion

India's foreign exchange reserves experienced its biggest decline in over 11 months, dropping by 8.3% in the week ending 10th February 2023, according to the Reserve Bank of India's (RBI) statistical supplement released on Friday (17th Feb 2023).

As of the end of last week, India's foreign exchange reserves were recorded at a one-month low of $566.95 billion, reflecting a decline of 8.3% from the previous week's figure of $575.27 billion, during which it fell 1.5%.

The Weekly Statistical Supplement released by the RBI revealed that, for the week ending February 10, the foreign currency assets - a significant component of India's foreign exchange reserves - decreased by $7.108 billion to $500.587 billion.

According to the Reserve Bank of India, gold reserves have decreased for the second consecutive week, dropping by $919 million to reach a total of $42.862 billion.

Additionally, the Special Drawing Rights (SDRs) also decreased by $190 million to $18.354 billion. The country's reserve position with the International Monetary Fund (IMF) also declined by $102 million to $5.145 billion during the reporting week, as per data from the apex bank..

Source : CNBC

Published On : February 18, 2023

Category : Indian Economy

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