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India’s forex reserve

  Oct 05, 2020

India’s forex reserve

Q. Why is this in news ?

A.  As per the Reserve Bank of India (RBI) data, India's foreign exchange (forex) reserves touched a record high of USD 541.431 billion in the week ended 28th August 2020.

Q. What are Forex Reserves?

A.  Foreign exchange reserves are assets denominated in a foreign currency that are held on reserve by a central bank. These may include foreign currencies, bonds, treasury bills and other government securities.

Q. What are objectives behind holding Forex Reserves?

Q. What about Forex Reserves in India?

A. Forex reserves are external assets accumulated by India and controlled by the RBI in the form of:

Q. What are the reasons for High Forex Reserves?

Q. What is the significance of rising forex reserves?