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India's foreign exchange reserves of Asia's third largest economy rose by________billion to______billion for the week ending Oct 28, 2022.
A)
$5.29 billion to $517 billion
B)
$6.56 billion to $531.08 billion
C)
$7.12 billion to $558 billion
D)
$7.79 billion to $598 billion

Correct Answer :   $6.56 billion to $531.08 billion


India's foreign exchange reserves logged their biggest weekly jump since September 2021 and also rose for the first time in three weeks for the week ended October 28, helped by gains in both foreign currency assets and gold reserves.
 
The foreign exchange reserves of Asia's third largest economy rose by $6.56 billion to $531.08 billion for the week ending Oct 28, 2022, according to data released today by the Reserve Bank of India.
 
However, the spot forex reserves are still sharply down from $607 billion in end-March and depleted by $111.37 billion from the record high of $642.45 billion seen on September 3, 2021.
 
The forex reserves have depleted for 11 weeks out of 13. The other time it got lucky was for the week ended Oct 7, when gains in gold reserves had lifted the forex reserves by just $204 million.
 
The foreign exchange reserves had fallen to their lowest level since July 2020 to $524.52 billion for the week ending Oct 21.
 
Foreign currency assets rose $5.77 billion to $470.85 billion for the week ending Oct 28. Gold reserves rose by $556 million to $37.762 billion..

Source : Economic Times

Published On : November 5, 2022
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