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Well......!
Every countries needs to keeps some foreign exchange or so called FOREX. The main purpose for keeping FOREX are for export and import, tourism industries and the most important for balancing of economy. SDR is that currency issued by the IMF to facilitate international liquidity. SDR in FOREX reserves is that when a country face economic depression and its currency value decrease then that very country sell its SDR to pay its dept, to carry import and export and to increase the value of its currency
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Why does a nation need forex reserves?
In order to support its currency.
What are Forex Reserves?
Forex reserves are financial assets in diverse foreign currencies, held by central banks and monetary authorities of countries. Most countries maintain their Forex reserves in the major currencies like the dollar, yen, pound, gold, e.t.c. The essence of the reserve is to shield or backup liabilities or form of savings, which generates interest.See: en.wikipedia.org/wiki/Foreign-exchange_reserves
What are India's account balances and major features of their account balance and capital account balance and Forex reserves for 2001 to 2006?
1. capital account balance and forex reserves for the period 2001-2006 and list the major features.
What is Forex Reserves?
Foreign exchange reserves (also called Forex reserves) in a strict sense are only the foreign currency deposits held by central banks and monetary authorities. However, the term foreign exchange reserves in popular usage (such as this list) commonly includes foreign exchange and gold, SDRs and IMF reserve position as this total figure is more readily available, however it is accurately deemed as official reserves or international reserves.
What are SDRs in forex reserves?
SDRs SDR stands for special drawing rights. They are a product of the International Monetary Fund. Originally, when exchange rates were fixed, countries had to hold reserves of gold (or hard currency) against their currency outstanding in order for their currency to be exchangeable. There wasn't enough gold to serve this purpose, so the IMF created SDRs. SDRs represent "shares" in a basket of hard currencies. (Today those are the euro, yen, British pound, and U.S. dollar.) When first used, 1 SDR equaled 1 US dollar which equaled just under 1 gram of gold.
Why do a nation need forex reserves?
Forex reserve or Foreign exchange reserves are only the foreign currency deposits and bonds held by central banks and monetary authorities. A country needs Foreign exchange reserves as it is important indicator of nation's ability to repay foreign debt and also for currency defense. It is also used to determine credit ratings of nations.
India's forex reserves the period 2001-2006?
You can get all the data from here http://www.4xindia.com www.rbi.org.in
What is the rank of India in foreign exchange forex reserve?
India holds ninth position in terms of foreign-exchange reserves as of may 2012.
Guides about forex and forex money?
Assuming the question is about forex trading, there are basic courses available to learn about basic terminology. such as pips, bid, ask, spread, lot size, etc. There is also a special post at fxmarkettips factory that covers more specifics about forex brokers.
Collect data on India's current account balance capital account balance and forex reserves for the period 2001-2006?
Collect data on India's current account balance capital account balance and forex resevers for a period 2001-2006?
Collect data on India's current account balance capital balance account and forex reserves for the period 2001-2006 and list the major features?
pls send answer
India's current account balancecapital account balance and forex reserves for the period 2001-2006 and list the major features?
please send the answer to enable me submit the assignment to ignou MBA programme
