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: -According to RBI’s latest data, India’s foreign currency assets, the biggest component of the forex reserves, rose by USD 9.078 billion to USD 505.519 billion. 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.

Detailed explanation-3: -India Foreign Exchange Reserves was measured at 498.0 USD bn in Dec 2022, compared with 490.3 USD bn in the previous month See the table below for more data.

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.