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Eduncle posted an MCQ
October 20, 2019 • 17:18 pm 0 points
  • UGC NET
  • Economics

Which of the following does not form part of the foreign exchange reserves of India ?

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    Eduncle Best Answer

    Foreign exchange reserves also called forex reserves or FX reserves are assets held by a central hank or other monetary authority, usually in various reserve currencies and used to back its liabilities e.g. the local currency issued, and the various bank reserves deposited with the central hank by the government or by financial institutions. The foreign exchange reserves of India comprise of four elements :
    (i) Gold,
    (ii) Special Drawing Rights (SDR),
    (iii) Foreign Currency Assets (FCA),
    (iv) Reserve Position in the IMF
    India's foreign exchange reserves as on 17th March 2017 is US$ 366.78 billion.

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