BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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7th
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2nd
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9th
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3rd
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Detailed explanation-1: -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. As of September 2021, India holds fourth largest foreign-exchange reserves in the world following Switzerland.
Detailed explanation-2: -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.
Detailed explanation-3: -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.
Detailed explanation-4: -China has by far the largest foreign currency reserves with over two and a half times more than the second-largest reserve holder, Japan.
Detailed explanation-5: -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.