BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Foreign Currency assets
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Gold
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Reserve tranche with IMF
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Special Drawing Rights
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Detailed explanation-1: -India’s foreign exchange reserves are mainly composed of US dollar in the forms of US government bonds and institutional bonds. with nearly 7.34% of forex reserves in gold. The FCAs also include investments in US Treasury bonds, bonds of other selected governments and deposits with foreign central and commercial banks.
Detailed explanation-2: -Complete answer: Out of the given options, the industry in which India earns its maximum foreign exchange is Iron industry.
Detailed explanation-3: -FCA is the largest component of the forex reserve. 2. Gold. 3.
Detailed explanation-4: -China is the top country by foreign exchange reserves in the world. As of November 2022, foreign exchange reserves in China was 3, 180, 689 million US dollars that accounts for 37.92% of the world’s foreign exchange reserves.
Detailed explanation-5: -Foreign Exchange Reserves in India averaged 272781.78 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.