Reserve Bank of India release, Indiaâ€™s foreign exchange reserves increased by ______to _____

Today General Knowledge(GK)

Reserve Bank of India release, Indiaâ€™s foreign exchange reserves increased by ______to ______ in the week ended January 20, 2023.

$1.275 billion to $513.364 billion

$1.421 billion to $524.32 billion

$1.575 billion to $501.52 billion

$1.727 billion to $573.727 billion

Correct Answer : Option (D) - $1.727 billion to $573.727 billion

India’s foreign exchange reserves increased by $1.727 billion to $573.727 billion in the week ended 20 January 2023, the Reserve Bank of India (RBI) said on Friday (27th January 2023).

* India’s forex reserves stood at $561.583 billion as on January 13, 2023.

* The Foreign Currency Assets stood at $503.65 billion. FCA is a major component of the overall reserves. Expressed in dollar terms, FCA includes the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.

* At the start of 2022, the overall forex reserves were at $633.61 billion and dropped to a two-year low in October.

* Much of the decline can be attributed to RBI's intervention and a rise in the cost of imported goods. It is still down sharply from a peak of over $642 billion touched in September last year (2022)...

Source : Economic Times

Published On : January 29, 2023

Category : Banking

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