According to the Reserve Bank of India data, how much did India's foreign exchange reserves fall by as of May 19, 2023?

Solution

As per the information given below, the correct answer is option B. India's foreign exchange reserves saw a fall of $6.052 billion to $593.477 billion as on May 19, 2023, as per Reserve Bank of India data updated. The drop in the kitty has snapped two consecutive weeks of increases. India's forex kitty had jumped $3.553 billion to $599.529 billion for the week ended May 12. Expressed in dollar terms, the foreign currency assets (FCAs) include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves. India's total FCA saw a dip of $4.654 billion to $524.945 billion. Gold reserves fell by $1.227 billion to $45.127 billion while SDRs fell by $137 million to $18.276 billion.