2022
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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$633.614 billion
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$621.581 billion
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$642.453 billion
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$639.405 billion
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Detailed explanation-1: -The net forward asset (receivable) of the Reserve Bank in domestic foreign exchange market stood at USD 28.40 billion as at the end of September 2022.
Detailed explanation-2: -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-3: -The Reserve Bank of India provides monthly Foreign Exchange Reserves in USD. In the latest reports, India Foreign Exchange Reserves equaled 8.6 Months of Import in Dec 2022. Its Money Supply M2 increased 691.9 USD bn YoY in Dec 2022.
Detailed explanation-4: -India’s foreign exchange reserves rise to a 5-month high of $572 billion - India Today.