India’s Foreign Exchange Reserves

Question: Recently, India’s Forex reserves decline by 613.9 million dollar to –
(a) 393.12 Billion Dollar
(b) 350.00 Billion Dollar
(c) 425.00 Billion Dollar
(d) 450.00 Billion Dollar
Answer: (a)
Related facts:

  • The country’s foreign exchange reserves declined by 613.9 million dollar to 393.12 billion dollar in the week to 14th December, 2018.
  • In the previous week, the reserves had increased by 16.6 million dollar to 393.734 billion dollar.
  • In the reporting week, foreign currency assets, a major component of the overall reserves, dropped by 631.6 million dollar to 367.865 billion dollar.
  • Expressed in US Dollars, foreign currency assets include the effect of appreciation or depreciation on Non-US currencies such as the euro, pound and yen held in the reserves.
  • The reserves had touched a record high of 426.028 billion dollar in the week to April 13, 2018.
  • Gold reserves rose by 37.2 million dollar to 21.187 billion dollar in the reporting week.
  • The special drawing rights (SDR) with the IMF dipped by 7 million dollar to 1.45 billion dollar. The country’s reserve position with the IMF also decline by USD 12.5 million to USD 2.617 billion

Links:
https://timesofindia.indiatimes.com/business/india-business/forex-reserves-decline-by-usd-613-9-mn-to-usd-393-12-bn/articleshow/67197236.cms
https://www.businesstoday.in/pti-feed/forex-reserves-decline-by-usd-613.9-mn-to-usd-393.12-bn/story/303205.html

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