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In order to support its currency.
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∙ 15y ago
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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.
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.
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 state has the most coal reserves?
Montana leads the nation in coal reserves followed by Illinois and then Wyoming which currently leads the nation in coal production.
What are special drawing rights in forex reserves?
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
How do Forex Trader pay taxes?
Forex is tax-free and forex traders do not need to pay tax. Keep all your money for yourself.
How many reserves does the Bigstone Cree Nation have?
The Bigstone Cree have six reserves established in northern Alberta, Canada.
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.
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?
What credentials do I need to have to pursue a career in Forex Trading in NYC?
You don't need a specific degree to become a Forex trader, although some business training would probably be helpful. Go to http://www.ehow.com/how_4421285_become-forex-trader.html for a comprehensive guide on becoming a Forex trader.
