Indias foreign exchange reserves hit a life-time high of 424.361 billion US dollar after rising by 1.828 billion dollars in the week to 30th March 2018. The foreign reserves are managed by

BANKING GENERAL KNOWLEDGE

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

India’s foreign exchange reserves hit a life-time high of 424.361 billion US dollar after rising by 1.828 billion dollars in the week to 30th March 2018. The foreign reserves are managed by

A	Ministry of Finance
B	Government of India
C	Reserve Bank of India
D	Export-Import Bank of India

Explanation:

Detailed explanation-1: -Foreign Exchange Reserves in India averaged 272554.80 USD Million from 1998 until 2023, reaching an all time high of 642453.00 USD Million in September of 2021 and a record low of 29048.00 USD Million in September of 1998.

Detailed explanation-2: -The rise in the RBI’s reserves is the sharpest since the week ended December 2, 2022. According to analysts the increase in the reserves was owing to a positive valuation impact in the face of a weaker US dollar as well as likely purchases of the American currency by the RBI.

Detailed explanation-3: -Gold reserves rose by USD 1.106 to USD 42.890 billion. Notably, at the start of last year-2022, the overall forex reserves were at about USD 633 billion. Much of the decline can be attributed to RBI’s intervention and a rise in the cost of imported goods.

Detailed explanation-4: -India’s reserves hit a more-than-two-year low of $524.52 billion in October 2022. India’s foreign exchange reserves rose to a five month high in the week ended January 13, according to the Reserve Bank of India’s (RBI) statistical supplement released on Friday.

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