2021
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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$1.581 billion
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$2.581 billion
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$3.581 billion
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$5.581 billion
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Detailed explanation-1: -After three consecutive years of rise, India’s foreign exchange reserves declined by around $ 70 billion in 2022 amid rising inflation and interest rates.
Detailed explanation-2: -In June 2021, India crossed the 600 Billion USD mark for the first time. The total forex reserves touched an all time high of 642.453 billion US$ on 8 September 2021. The reserves declined to $573.9 billion by 29 July 2022.
Detailed explanation-3: -India’s weekly forex reserves rise by $10.42 bn to hit 5-month high of $572 bn. In the week ending January 13, the reserves surged by $10.417 billion to $572 billion. This is far higher better performance compared to the previous week which ended on January 6.
Detailed explanation-4: -“India’s foreign exchange reserves at $537.5 billion as of September 23, 2022, compare favourably with most peer economies. Two-thirds of the decline in reserves is due to valuation changes arising from an appreciating U.S. dollar and higher U.S. bond yields, ” Ms.