Commercial Applications
Central bank is the sole …………… of the country's foreign currency reserve.
- Dealer
- Consumer
- Custodian
- User
Banking
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Answer
Custodian
Reason — The central bank is the sole custodian of gold, foreign exchange and all other reserves of the country. It manages these reserves judiciously to overcome difficulties in balance of payments and to stabilise exchange rates. Commercial banks are merely authorised dealers in foreign exchange, not custodians.
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