Indian Forex Reserve reaches 5th largest in the world with $500 billion
Indian
forex reserve reaches 5th largest in
the world with $500 billion
Key points:
Indian has become the fifth largest in the accumulation of foreign
exchange reserves in the world.
According to the Reserve Bank Data, the country’s foreign
exchange reserves topping $500 billion for the first time ever till the end
of 5th Jun this year.
The Indian foreign exchange reserves topped to the fifth
position after China, Japan, Switzerland, and Russia.
India holds large foreign exchange reserves as cash, bank
deposits, bonds, and other financial assets denominated in currencies other
than India’s national currency.
More elaborately, foreign exchange reserves would include
banknotes, deposits, bonds, treasury bills and other government securities of
the reserve currency.
The reserve bank of India is a key player in managing reserves
as the Indian rupee and the main component is foreign currency assets.
Daily Current Affairs
Also Read Current Affairs in Tamil, Current Affairs in English, Download Current pdf in Tamil, Download Current Affairs in English, Upcoming Jobs
Indian
forex reserve reaches 5th largest in
the world with $500 billion
Key points:
Indian has become the fifth largest in the accumulation of foreign
exchange reserves in the world.
According to the Reserve Bank Data, the country’s foreign
exchange reserves topping $500 billion for the first time ever till the end
of 5th Jun this year.
The Indian foreign exchange reserves topped to the fifth
position after China, Japan, Switzerland, and Russia.
India holds large foreign exchange reserves as cash, bank
deposits, bonds, and other financial assets denominated in currencies other
than India’s national currency.
More elaborately, foreign exchange reserves would include
banknotes, deposits, bonds, treasury bills and other government securities of
the reserve currency.
The reserve bank of India is a key player in managing reserves
as the Indian rupee and the main component is foreign currency assets.
Daily Current Affairs
Also Read Current Affairs in Tamil, Current Affairs in English, Download Current pdf in Tamil, Download Current Affairs in English, Upcoming Jobs
