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      Question

      Consider the following statement regarding the Reserve

      Bank of India's (RBI) actions and reports, on foreign currency liquidity management,┬а┬а 1. The RBI sold a net total of $3.64 billion worth of foreign currency in April 2024. 2. The RBI's net outstanding forward sales by the end of April stood at $16.25 billion. 3. In March 2024, the RBI had a net purchase of $8 billion in the spot market. Which of the above statements is/are correct?
      A 1 only Correct Answer Incorrect Answer
      B 2 only Correct Answer Incorrect Answer
      C 1 and 2 only Correct Answer Incorrect Answer
      D 2 and 3 only Correct Answer Incorrect Answer
      E 1, 2, and 3 Correct Answer Incorrect Answer

      Solution

      Statements 1 and 2 are correct as per the RBI's reports on foreign currency transactions. Statement 3 is incorrect because the RBI had a net purchase of $13.24 billion in the spot market in March, not $8 billion.

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