Current Affairs

Indian Forex Reserve reaches 5th largest in the world with $500 billion


Daily Current Affairs

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.

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" readonly >Daily Current Affairs

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