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      Question

      As of August 1, India’s foreign exchange reserves

      stood at approximately:
      A $678.9 billion Correct Answer Incorrect Answer
      B $682.5 billion Correct Answer Incorrect Answer
      C $688.9 billion Correct Answer Incorrect Answer
      D $692.1 billion Correct Answer Incorrect Answer
      E $699.0 billion Correct Answer Incorrect Answer

      Solution

      According to the data, India’s forex reserves were $688.9 billion as of August 1. This marked a decline of $9.3 billion from the previous week, attributed to the RBI’s intervention to defend the rupee amidst tariff uncertainty. Maintaining high reserves is critical for currency stability, external trade confidence, and debt servicing.

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