Forex Reserves scale record high of $409.366 billion in December 2017

Posted on:07 Jan 2018 09:00:01
Forex Reserves scale record high of $409.366 billion in December 2017
07 January 2018 Current Affairs:

According to Reserve Bank of India (RBI), India’s foreign exchange (Forex) reserves have scaled to a fresh record high of $409.366 billion as on December.

The forex is reserve assets held by a central bank in foreign currencies. It acts as a buffer to be used in challenging times and used to back liabilities.

Almost all countries in the world, regardless of the size of their economy, hold significant foreign exchange reserves.

The components of India’s FOREX Reserves include Foreign currency assets (FCAs), Gold, Special Drawing Rights (SDRs) and RBI’s Reserve position with International Monetary Fund (IMF). FCAs constitute the largest component of Indian Forex Reserves.


According to Reserve Bank of India (RBI), India’s foreign exchange (Forex) reserves have scaled to a fresh record high of $409.366 billion as on December.

The forex is reserve assets held by a central bank in foreign currencies. It acts as a buffer to be used in challenging times and used to back liabilities.

Almost all countries in the world, regardless of the size of their economy, hold significant foreign exchange reserves.

The components of India’s FOREX Reserves include Foreign currency assets (FCAs), Gold, Special Drawing Rights (SDRs) and RBI’s Reserve position with International Monetary Fund (IMF). FCAs constitute the largest component of Indian Forex Reserves.


Monthly Current Affairs

Current Affairs Section

Daily Current Affairs Quiz

Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs 2018 September

20 SEPTEMBER
NEWS
19 SEPTEMBER
NEWS
18 SEPTEMBER
NEWS
17 SEPTEMBER
NEWS

Current Affairs 2018 August

31 AUGUST
NEWS
30 AUGUST
NEWS
29 AUGUST
NEWS
28 AUGUST
NEWS

Current Affairs 2018 July

31 JULY
NEWS
30 JULY
NEWS
29 JULY
NEWS
28 JULY
NEWS