2021
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
$621.464 bn
|
|
|
$889 mn
|
|
|
$62 mn
|
|
|
$521.464 bn
|
Detailed explanation-1: -From $632.74 billion as of January 7, 2022, the reserves declined to $562.851 billion as of December 30, 2022, even as the Reserve Bank of India used its forex arsenal to stabilise the rupee and cushion the capital outflows.
Detailed explanation-2: -India’s foreign exchange (forex) reserves jumped $44 million to $562.85 billion in the last week ended December 30, according to the latest RBI data. However, the data showed that during the whole year 2022, the country’s forex reserves declined by $70.1 billion.
Detailed explanation-3: -The amount has sharply declined from the record $624.4 billion last year. As the world is reeling from the economic crisis with almost every central bank raising interest rates to curb soaring inflation, foreign exchange reserves are falling globally.