2022
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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$637.196 billion
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$632.736 billion
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$633.576 billion
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$634.856 billion
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Detailed explanation-1: -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-2: -In a report last month, the Reserve Bank said the country’s foreign exchange reserves at $ 564.1 billion as on December 9, 2022, covered 9.2 months of imports projected for 2022-23.
Detailed explanation-3: -As on February 25, 2022, which was around the time that Russia invaded Ukraine, RBI’s foreign exchange reserves stood at $631.53 billion. The RBI said last month that foreign exchange reserves worth $564.1 billion as on December 9 accounted for 9.2 months of imports projected for the current financial year.
Detailed explanation-4: -India has sufficient forex reserves to finance CAD, manage rupee volatility, says Economic Survey 2023. Forex reserves as of December 2022 end stood at USD 562.72 billion, accounting for 9.3 months of imports.