Current context: RBI data showed that India’s foreign exchange reserves fell by a whopping $11.98 billion in the week to March 20.
a. 13.89
b. 12.56
c. 11.98
d. 10.76
- The rupee hit an all-time low of 76.15 against the US dollar on 23rd March 2020.
- The Reserve Bank continued to supply dollars into the market to stem fall in the rupee that fell by $11.98 billion to $469.909 billion.
- The first decline in the country's reserve in almost six months was observed in the previous week, in which the country's foreign exchange reserves fell by $5.346 billion to $481.89 billion.
- The reserves had touched a life-time high of $487.23 billion in the week to 6th March 2020.
- The gold reserve decreased by $1.610 billion to $27.856 billion in the week under review.
- The special drawing rights with the International Monetary Fund (IMF) were down by $40 million to $1.409 billion.
- Also, India’s reserve position with the IMF dipped by $ 77 million to $ 3.542 billion.
Question:
Q.1 India’s foreign exchange reserves fell by a whopping $_________ billion in the week to March 20?a. 13.89
b. 12.56
c. 11.98
d. 10.76
