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
