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India's foreign exchange reserve fall by $7.541 billion to $572.712 billion

Published on July 23, 2022
Current Context: India's foreign exchange reserve fell by $7.541 billion to $572.712 billion during the week ended July 15 according to the latest data released by RBI (Reserve Bank of India).
India's foreign exchange reserve fall by $7.541 billion to $572.712 billion
  • The fall in the reserve was due to a decline in Foreign Currency Assets (FCA) a major component of the overall reserves, and also in the gold reserves.
  • According to Weekly Statistical Supplement released by RBI, FCA dropped from USD 6.527 billion to USD 511.562 billion.
  • In the reporting week gold reserves dropped by USD 830 million to USD 38.356 billion.
  • The Special Drawing Rights(SDR) with International Monetary Fund (IMF) decreased by USD 155 million to USD 17.875 billion.
  • In the reporting week, India's reserve position with IMF decreased by USD 29 million to USD 4.937 million.
  • According to RBI governor Shaktikanta Das, RBI has been supplying US dollars to the market to ensure that there is enough foreign exchange liquidity.
  • According to RBI data, in the week ended July 8, the reserve dropped by $8.062 billion to $580.252 billion.
  • Static Knowledge:
    • RBI governor - Shaktikanta Das
    • RBI headquarters - Mumbai
    • RBI was formed - on 1 April 1934
    • IMF chief - Kristalina Georgieva
    • IMF was formed - in July 1944
    • IMF headquarters - Washington D.C, United States

Question: 

Q.1 India's foreign exchange reserve fell by USD_______ to USD 572.712 billion.
a. 7.541 billion
b. 5.541 billion
c. 6.541 billion
d. 3.541 billion
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