CURRENT AFFAIRS

Detailed explanation-1: -China has the largest Forex reserves followed by Japan, Switzerland, India and Russia on the list of International Monetary Fund. India now has surpassed Russia (604.8 billion) to be in fourth position.

Detailed explanation-2: -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-3: -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-4: -After India, Russia’s forex reserves fell over 10 per cent, followed by Indonesia’s 9.19 per cent. On the other hand, Taiwan’s foreign reserves fell the least, only 0.53 per cent.