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Read the news report given below and answer the question that follow with respect to the same:
The rupee depreciated by 6 paise to close at 73.02 (provisional) against the US dollar on Monday, tracking a rebound in the American currency overseas.
At the interbank Forex market, the domestic unit opened at ₹ 72.89 against the US dollar and witnessed an intra-day high of ₹ 72.84 and a low of ₹ 73.15.
The local unit finally settled at ₹ 73.02, registering a fall of 6 paise over its previous close, even as the domestic equity market settled with significant gains on Budget day.
On Friday, the rupee had closed at ₹ 72.96 against the American currency.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.21 per cent to ₹ 90.78.
On the domestic equity market front, the BSE Sensex ended 2,314.84 points or 5 per cent higher at 48,600.61, while the broader NSE Nifty advanced 646.60 points or 4.74 percent to 14,281.20.
Foreign institutional investors were net sellers in the capital market as they offloaded shares worth ₹5,930.66 crore on Friday, according to exchange data.
Brent Crude Futures, the global oil benchmark, advanced 0.84 per cent to USD 55.50 per barrel.
Q. Read the following statements - Assertion (A) and Reason (R).
Assertion (A): Forex reserve of the country will fall.
Reason (R): Due to devaluation of domestic currency.
Select the correct alternative from the following:
- a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).
- b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).
- c)Assertion (A) is true, but Reason (R) is false.
- d)Assertion (A) is false, but Reason (R) is true.
Correct answer is option 'A'. Can you explain this answer?
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Read the news report given below and answer the question that follow ...
Imports become more expensive, i.e., the domestic buyers will now have to pay more for imports.
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Read the news report given below and answer the question that follow ...
Explanation:
Assertion (A):
- The assertion that the Forex reserve of the country will fall is true.
- When the domestic currency depreciates, it means that it takes more of the local currency to purchase one unit of the foreign currency.
- This results in a decrease in the value of the Forex reserves held by the country, as the same amount of foreign currency will now be worth less in terms of the domestic currency.
Reason (R):
- The reason given for the assertion is also true.
- Devaluation of the domestic currency leads to a decrease in the Forex reserves, as the value of the foreign currency denominated assets held by the country decreases in terms of the domestic currency.
- As a result, the Forex reserves will fall due to the devaluation of the domestic currency.
Explanation of Correct Answer:
- In this case, both the assertion and the reason are true, and the reason provided is the correct explanation for the assertion.
- Therefore, option 'A' - "Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A)" is the correct choice.
Assertion (A):
- The assertion that the Forex reserve of the country will fall is true.
- When the domestic currency depreciates, it means that it takes more of the local currency to purchase one unit of the foreign currency.
- This results in a decrease in the value of the Forex reserves held by the country, as the same amount of foreign currency will now be worth less in terms of the domestic currency.
Reason (R):
- The reason given for the assertion is also true.
- Devaluation of the domestic currency leads to a decrease in the Forex reserves, as the value of the foreign currency denominated assets held by the country decreases in terms of the domestic currency.
- As a result, the Forex reserves will fall due to the devaluation of the domestic currency.
Explanation of Correct Answer:
- In this case, both the assertion and the reason are true, and the reason provided is the correct explanation for the assertion.
- Therefore, option 'A' - "Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A)" is the correct choice.
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Read the news report given below and answer the question that follow with respect to the same:The rupee depreciated by 6 paise to close at 73.02 (provisional) against the US dollar on Monday, tracking a rebound in the American currency overseas.At the interbank Forex market, the domestic unit opened at ₹ 72.89 against the US dollar and witnessed an intra-day high of ₹ 72.84 and a low of ₹ 73.15.The local unit finally settled at ₹ 73.02, registering a fall of 6 paise over its previous close, even as the domestic equity market settled with significant gains on Budget day.On Friday, the rupee had closed at ₹ 72.96 against the American currency.Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.21 per cent to ₹ 90.78.On the domestic equity market front, the BSE Sensex ended 2,314.84 points or 5 per cent higher at 48,600.61, while the broader NSE Nifty advanced 646.60 points or 4.74 percent to 14,281.20.Foreign institutional investors were net sellers in the capital market as they offloaded shares worth ₹5,930.66 crore on Friday, according to exchange data.Brent Crude Futures, the global oil benchmark, advanced 0.84 per cent to USD 55.50 per barrel.Q. Read the following statements - Assertion (A) and Reason (R).Assertion (A): Forex reserve of the country will fall.Reason (R): Due to devaluation of domestic currency.Select the correct alternative from the following:a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer?
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Read the news report given below and answer the question that follow with respect to the same:The rupee depreciated by 6 paise to close at 73.02 (provisional) against the US dollar on Monday, tracking a rebound in the American currency overseas.At the interbank Forex market, the domestic unit opened at ₹ 72.89 against the US dollar and witnessed an intra-day high of ₹ 72.84 and a low of ₹ 73.15.The local unit finally settled at ₹ 73.02, registering a fall of 6 paise over its previous close, even as the domestic equity market settled with significant gains on Budget day.On Friday, the rupee had closed at ₹ 72.96 against the American currency.Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.21 per cent to ₹ 90.78.On the domestic equity market front, the BSE Sensex ended 2,314.84 points or 5 per cent higher at 48,600.61, while the broader NSE Nifty advanced 646.60 points or 4.74 percent to 14,281.20.Foreign institutional investors were net sellers in the capital market as they offloaded shares worth ₹5,930.66 crore on Friday, according to exchange data.Brent Crude Futures, the global oil benchmark, advanced 0.84 per cent to USD 55.50 per barrel.Q. Read the following statements - Assertion (A) and Reason (R).Assertion (A): Forex reserve of the country will fall.Reason (R): Due to devaluation of domestic currency.Select the correct alternative from the following:a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Read the news report given below and answer the question that follow with respect to the same:The rupee depreciated by 6 paise to close at 73.02 (provisional) against the US dollar on Monday, tracking a rebound in the American currency overseas.At the interbank Forex market, the domestic unit opened at ₹ 72.89 against the US dollar and witnessed an intra-day high of ₹ 72.84 and a low of ₹ 73.15.The local unit finally settled at ₹ 73.02, registering a fall of 6 paise over its previous close, even as the domestic equity market settled with significant gains on Budget day.On Friday, the rupee had closed at ₹ 72.96 against the American currency.Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.21 per cent to ₹ 90.78.On the domestic equity market front, the BSE Sensex ended 2,314.84 points or 5 per cent higher at 48,600.61, while the broader NSE Nifty advanced 646.60 points or 4.74 percent to 14,281.20.Foreign institutional investors were net sellers in the capital market as they offloaded shares worth ₹5,930.66 crore on Friday, according to exchange data.Brent Crude Futures, the global oil benchmark, advanced 0.84 per cent to USD 55.50 per barrel.Q. Read the following statements - Assertion (A) and Reason (R).Assertion (A): Forex reserve of the country will fall.Reason (R): Due to devaluation of domestic currency.Select the correct alternative from the following:a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the news report given below and answer the question that follow with respect to the same:The rupee depreciated by 6 paise to close at 73.02 (provisional) against the US dollar on Monday, tracking a rebound in the American currency overseas.At the interbank Forex market, the domestic unit opened at ₹ 72.89 against the US dollar and witnessed an intra-day high of ₹ 72.84 and a low of ₹ 73.15.The local unit finally settled at ₹ 73.02, registering a fall of 6 paise over its previous close, even as the domestic equity market settled with significant gains on Budget day.On Friday, the rupee had closed at ₹ 72.96 against the American currency.Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.21 per cent to ₹ 90.78.On the domestic equity market front, the BSE Sensex ended 2,314.84 points or 5 per cent higher at 48,600.61, while the broader NSE Nifty advanced 646.60 points or 4.74 percent to 14,281.20.Foreign institutional investors were net sellers in the capital market as they offloaded shares worth ₹5,930.66 crore on Friday, according to exchange data.Brent Crude Futures, the global oil benchmark, advanced 0.84 per cent to USD 55.50 per barrel.Q. Read the following statements - Assertion (A) and Reason (R).Assertion (A): Forex reserve of the country will fall.Reason (R): Due to devaluation of domestic currency.Select the correct alternative from the following:a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer?.
Read the news report given below and answer the question that follow with respect to the same:The rupee depreciated by 6 paise to close at 73.02 (provisional) against the US dollar on Monday, tracking a rebound in the American currency overseas.At the interbank Forex market, the domestic unit opened at ₹ 72.89 against the US dollar and witnessed an intra-day high of ₹ 72.84 and a low of ₹ 73.15.The local unit finally settled at ₹ 73.02, registering a fall of 6 paise over its previous close, even as the domestic equity market settled with significant gains on Budget day.On Friday, the rupee had closed at ₹ 72.96 against the American currency.Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.21 per cent to ₹ 90.78.On the domestic equity market front, the BSE Sensex ended 2,314.84 points or 5 per cent higher at 48,600.61, while the broader NSE Nifty advanced 646.60 points or 4.74 percent to 14,281.20.Foreign institutional investors were net sellers in the capital market as they offloaded shares worth ₹5,930.66 crore on Friday, according to exchange data.Brent Crude Futures, the global oil benchmark, advanced 0.84 per cent to USD 55.50 per barrel.Q. Read the following statements - Assertion (A) and Reason (R).Assertion (A): Forex reserve of the country will fall.Reason (R): Due to devaluation of domestic currency.Select the correct alternative from the following:a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Read the news report given below and answer the question that follow with respect to the same:The rupee depreciated by 6 paise to close at 73.02 (provisional) against the US dollar on Monday, tracking a rebound in the American currency overseas.At the interbank Forex market, the domestic unit opened at ₹ 72.89 against the US dollar and witnessed an intra-day high of ₹ 72.84 and a low of ₹ 73.15.The local unit finally settled at ₹ 73.02, registering a fall of 6 paise over its previous close, even as the domestic equity market settled with significant gains on Budget day.On Friday, the rupee had closed at ₹ 72.96 against the American currency.Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.21 per cent to ₹ 90.78.On the domestic equity market front, the BSE Sensex ended 2,314.84 points or 5 per cent higher at 48,600.61, while the broader NSE Nifty advanced 646.60 points or 4.74 percent to 14,281.20.Foreign institutional investors were net sellers in the capital market as they offloaded shares worth ₹5,930.66 crore on Friday, according to exchange data.Brent Crude Futures, the global oil benchmark, advanced 0.84 per cent to USD 55.50 per barrel.Q. Read the following statements - Assertion (A) and Reason (R).Assertion (A): Forex reserve of the country will fall.Reason (R): Due to devaluation of domestic currency.Select the correct alternative from the following:a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the news report given below and answer the question that follow with respect to the same:The rupee depreciated by 6 paise to close at 73.02 (provisional) against the US dollar on Monday, tracking a rebound in the American currency overseas.At the interbank Forex market, the domestic unit opened at ₹ 72.89 against the US dollar and witnessed an intra-day high of ₹ 72.84 and a low of ₹ 73.15.The local unit finally settled at ₹ 73.02, registering a fall of 6 paise over its previous close, even as the domestic equity market settled with significant gains on Budget day.On Friday, the rupee had closed at ₹ 72.96 against the American currency.Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.21 per cent to ₹ 90.78.On the domestic equity market front, the BSE Sensex ended 2,314.84 points or 5 per cent higher at 48,600.61, while the broader NSE Nifty advanced 646.60 points or 4.74 percent to 14,281.20.Foreign institutional investors were net sellers in the capital market as they offloaded shares worth ₹5,930.66 crore on Friday, according to exchange data.Brent Crude Futures, the global oil benchmark, advanced 0.84 per cent to USD 55.50 per barrel.Q. Read the following statements - Assertion (A) and Reason (R).Assertion (A): Forex reserve of the country will fall.Reason (R): Due to devaluation of domestic currency.Select the correct alternative from the following:a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer?.
Solutions for Read the news report given below and answer the question that follow with respect to the same:The rupee depreciated by 6 paise to close at 73.02 (provisional) against the US dollar on Monday, tracking a rebound in the American currency overseas.At the interbank Forex market, the domestic unit opened at ₹ 72.89 against the US dollar and witnessed an intra-day high of ₹ 72.84 and a low of ₹ 73.15.The local unit finally settled at ₹ 73.02, registering a fall of 6 paise over its previous close, even as the domestic equity market settled with significant gains on Budget day.On Friday, the rupee had closed at ₹ 72.96 against the American currency.Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.21 per cent to ₹ 90.78.On the domestic equity market front, the BSE Sensex ended 2,314.84 points or 5 per cent higher at 48,600.61, while the broader NSE Nifty advanced 646.60 points or 4.74 percent to 14,281.20.Foreign institutional investors were net sellers in the capital market as they offloaded shares worth ₹5,930.66 crore on Friday, according to exchange data.Brent Crude Futures, the global oil benchmark, advanced 0.84 per cent to USD 55.50 per barrel.Q. Read the following statements - Assertion (A) and Reason (R).Assertion (A): Forex reserve of the country will fall.Reason (R): Due to devaluation of domestic currency.Select the correct alternative from the following:a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce.
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Here you can find the meaning of Read the news report given below and answer the question that follow with respect to the same:The rupee depreciated by 6 paise to close at 73.02 (provisional) against the US dollar on Monday, tracking a rebound in the American currency overseas.At the interbank Forex market, the domestic unit opened at ₹ 72.89 against the US dollar and witnessed an intra-day high of ₹ 72.84 and a low of ₹ 73.15.The local unit finally settled at ₹ 73.02, registering a fall of 6 paise over its previous close, even as the domestic equity market settled with significant gains on Budget day.On Friday, the rupee had closed at ₹ 72.96 against the American currency.Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.21 per cent to ₹ 90.78.On the domestic equity market front, the BSE Sensex ended 2,314.84 points or 5 per cent higher at 48,600.61, while the broader NSE Nifty advanced 646.60 points or 4.74 percent to 14,281.20.Foreign institutional investors were net sellers in the capital market as they offloaded shares worth ₹5,930.66 crore on Friday, according to exchange data.Brent Crude Futures, the global oil benchmark, advanced 0.84 per cent to USD 55.50 per barrel.Q. Read the following statements - Assertion (A) and Reason (R).Assertion (A): Forex reserve of the country will fall.Reason (R): Due to devaluation of domestic currency.Select the correct alternative from the following:a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Read the news report given below and answer the question that follow with respect to the same:The rupee depreciated by 6 paise to close at 73.02 (provisional) against the US dollar on Monday, tracking a rebound in the American currency overseas.At the interbank Forex market, the domestic unit opened at ₹ 72.89 against the US dollar and witnessed an intra-day high of ₹ 72.84 and a low of ₹ 73.15.The local unit finally settled at ₹ 73.02, registering a fall of 6 paise over its previous close, even as the domestic equity market settled with significant gains on Budget day.On Friday, the rupee had closed at ₹ 72.96 against the American currency.Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.21 per cent to ₹ 90.78.On the domestic equity market front, the BSE Sensex ended 2,314.84 points or 5 per cent higher at 48,600.61, while the broader NSE Nifty advanced 646.60 points or 4.74 percent to 14,281.20.Foreign institutional investors were net sellers in the capital market as they offloaded shares worth ₹5,930.66 crore on Friday, according to exchange data.Brent Crude Futures, the global oil benchmark, advanced 0.84 per cent to USD 55.50 per barrel.Q. Read the following statements - Assertion (A) and Reason (R).Assertion (A): Forex reserve of the country will fall.Reason (R): Due to devaluation of domestic currency.Select the correct alternative from the following:a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer?, a detailed solution for Read the news report given below and answer the question that follow with respect to the same:The rupee depreciated by 6 paise to close at 73.02 (provisional) against the US dollar on Monday, tracking a rebound in the American currency overseas.At the interbank Forex market, the domestic unit opened at ₹ 72.89 against the US dollar and witnessed an intra-day high of ₹ 72.84 and a low of ₹ 73.15.The local unit finally settled at ₹ 73.02, registering a fall of 6 paise over its previous close, even as the domestic equity market settled with significant gains on Budget day.On Friday, the rupee had closed at ₹ 72.96 against the American currency.Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.21 per cent to ₹ 90.78.On the domestic equity market front, the BSE Sensex ended 2,314.84 points or 5 per cent higher at 48,600.61, while the broader NSE Nifty advanced 646.60 points or 4.74 percent to 14,281.20.Foreign institutional investors were net sellers in the capital market as they offloaded shares worth ₹5,930.66 crore on Friday, according to exchange data.Brent Crude Futures, the global oil benchmark, advanced 0.84 per cent to USD 55.50 per barrel.Q. Read the following statements - Assertion (A) and Reason (R).Assertion (A): Forex reserve of the country will fall.Reason (R): Due to devaluation of domestic currency.Select the correct alternative from the following:a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of Read the news report given below and answer the question that follow with respect to the same:The rupee depreciated by 6 paise to close at 73.02 (provisional) against the US dollar on Monday, tracking a rebound in the American currency overseas.At the interbank Forex market, the domestic unit opened at ₹ 72.89 against the US dollar and witnessed an intra-day high of ₹ 72.84 and a low of ₹ 73.15.The local unit finally settled at ₹ 73.02, registering a fall of 6 paise over its previous close, even as the domestic equity market settled with significant gains on Budget day.On Friday, the rupee had closed at ₹ 72.96 against the American currency.Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.21 per cent to ₹ 90.78.On the domestic equity market front, the BSE Sensex ended 2,314.84 points or 5 per cent higher at 48,600.61, while the broader NSE Nifty advanced 646.60 points or 4.74 percent to 14,281.20.Foreign institutional investors were net sellers in the capital market as they offloaded shares worth ₹5,930.66 crore on Friday, according to exchange data.Brent Crude Futures, the global oil benchmark, advanced 0.84 per cent to USD 55.50 per barrel.Q. Read the following statements - Assertion (A) and Reason (R).Assertion (A): Forex reserve of the country will fall.Reason (R): Due to devaluation of domestic currency.Select the correct alternative from the following:a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Read the news report given below and answer the question that follow with respect to the same:The rupee depreciated by 6 paise to close at 73.02 (provisional) against the US dollar on Monday, tracking a rebound in the American currency overseas.At the interbank Forex market, the domestic unit opened at ₹ 72.89 against the US dollar and witnessed an intra-day high of ₹ 72.84 and a low of ₹ 73.15.The local unit finally settled at ₹ 73.02, registering a fall of 6 paise over its previous close, even as the domestic equity market settled with significant gains on Budget day.On Friday, the rupee had closed at ₹ 72.96 against the American currency.Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.21 per cent to ₹ 90.78.On the domestic equity market front, the BSE Sensex ended 2,314.84 points or 5 per cent higher at 48,600.61, while the broader NSE Nifty advanced 646.60 points or 4.74 percent to 14,281.20.Foreign institutional investors were net sellers in the capital market as they offloaded shares worth ₹5,930.66 crore on Friday, according to exchange data.Brent Crude Futures, the global oil benchmark, advanced 0.84 per cent to USD 55.50 per barrel.Q. Read the following statements - Assertion (A) and Reason (R).Assertion (A): Forex reserve of the country will fall.Reason (R): Due to devaluation of domestic currency.Select the correct alternative from the following:a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of the Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of the Assertion (A).c)Assertion (A) is true, but Reason (R) is false.d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice Commerce tests.
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