India’s foreign-exchange reserves surpassed Russia’s to become the world’s fourth-largest reserve. The foreign currency holdings of India stood at $580.3 billion as of March 5, as per the data by the Reserve Bank of India (RBI). The reserve of Russia was $580.1 billion. Overall, China has the largest reserves, followed by Japan and Switzerland, as on the International Monetary Fund table.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
Reserves for both countries have mostly flattened out this year after months of rapid increase. India pulled ahead as Russian holdings declined at a faster rate in recent weeks. India’s reserves, enough to cover roughly 18 months of imports, have been bolstered by a rare current-account surplus, rising inflows into the local stock market and foreign direct investment.
Important takeaways for all competitive exams:
Himanta Biswa Sarma has submitted his resignation from the post of Chief Minister to Governor…
For the international climate diplomacy, representatives from around 50 countries gathered in the Santa Marta…
To make the India's education inclusive PRASHAST 2.0 is launched by NCERT. It is a…
Kumar Mangalam Birla has been appointed as new Non-Executive Chairman of Vodafone Idea Limited. His…
For the India Railway Infrastructure Union Government has officially notified the creation of the new…
The Union Cabinet led by the Honorable Prime Minister Narendra Modi has approved the Emergency…