Question
Consider the following statements about Foreign Exchange Reserves: 1. These may include foreign currencies, bonds, treasury bills, and other government securities. 2. Reserves are denominated and expressed in the US dollar. 3. SBI is the custodian of the Foreign exchange reserves in India. Which of the above statement is/are not correct?
Solution
These may include foreign currencies, bonds, treasury bills, and other government securities. Reserves are denominated and expressed in the US dollar, which is the international numeraire for the purpose. RBI is the custodian of the Foreign exchange reserves in India.
More Economy and Banking and Finance Current Affairs Questions
- Which of the following best describes a "Bull Market"?
- All India Bank Employees Association (AIBEA) is the oldest and largest national trade union of bank employees in India, was founded in?
- Which statement is not correct about Small Finance Bank (SFB)- (A) SFB can provide savings vehicles to unbanked and under-banked public (B) SFB can provi...
- Deposit Insurance Corporation (DIC) Bill was introduced in the Parliament in which year?
- Which of the following statements is/are NOT TRUE with respect to the data been released in Reserve Bank of India’s report State Finances: A Study of Budge...
- What is the minimum percentage of Priority Sector Lending (PSL) required for domestic banks in India?
- FEMA's head office is known as the _________ and is situated in Delhi.
- The five-year plans in India laid down not only specific objectives to be attained in the five years of a plan, but also what was to be achieved over a per...
- The inaugural officeholder of the chairperson of State Bank of India was?
- Which of the following is NOT a type of mutual fund?
Relevant for Exams:
