CURRENT AFFAIRS

Detailed explanation-1: -Reserves rose to $572 billion, the highest since early August last year. The number is higher than the earlier week-ended January 6-at $561.58 billion. India’s reserves hit a more-than-two-year low of $524.52 billion in October 2022.

Detailed explanation-2: -The foreign exchange reserves of India touched an all-time high in the last six months for the week ending on January 20, 2023.

Detailed explanation-3: -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-4: -Foreign Exchange Reserves in India averaged 272322.99 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-5: -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.