Foreign exchange reserves Subject: Economy Context:  The Nation’s forex reserves surged by $9.427 billion to record high of $620.576 billion in the week ended July 30, according to the latest data from the RBI. Concept: FCA increased by $8.596 billion to $576.224 billion in the reporting week. It is expressed in dollar terms, […]

Subject: Economy Context: India’s foreign exchange reserves jumped by a record $11.9 billion in the week ending July 31 to hit a fresh high of $534.5 billion, making it the fifth largest holder of reserves in the world. Concept: The Forex Reserves (‘foreign exchange reserves’) of an economy is its ‘foreign currency assets’ added with its gold reserves, SDRs […]