Question
Which of the following is/are correct with respect to
the Reserve Bank of India’s (RBI) Report on Management of Foreign Exchange Reserves? I. According to the Reserve Bank of India’s (RBI) Report on Management of Foreign Exchange Reserves, the share of India’s foreign currency assets deployed in overseas securities rose to 81.43 per cent by September. II.The share of money kept in deposits with other central banks and the Bank for International Settlement (BIS) declined to 35.22 per cent at the end of September. III.The foreign currency assets rose to $521.36 billion at the end of September .Solution
According to the Reserve Bank of India’s (RBI) Report on Management of Foreign Exchange Reserves, the share of India’s foreign currency assets deployed in overseas securities rose to 81.43 per cent by September from 80.76 per cent in March.The share of money kept in deposits with other central banks and the Bank for International Settlement (BIS) declined to 13.49 per cent at the end of September from 14.82 per cent at the end of March 2023. However, the share of deposits with commercial banks overseas rose to 5.08 per cent in September. The foreign currency assets rose to $521.36 billion at the end of September . The RBI’s gold reserves increased to 800.79 tonnes (including gold deposits of 39.89 tonne) at the end of September.
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