Foreign exchange reserves (symbolic picture)
According to the Reserve Bank data, there has been an increase in the currency reserves due to increase in FCA in the reporting week.
Increase in FCA
Earlier, in the week ended March 5, the foreign exchange reserves had decreased by $ 4.255 billion to $ 580.299 billion. According to the Reserve Bank data, there has been an increase in the currency reserves in the reporting week due to the increase in foreign currency assets (FCA). Foreign currency assets form a significant part of the total foreign exchange reserves.
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Increase in gold reserves
According to the data, gold reserves have increased for the second week in a row. The value of the country’s gold reserves increased by $ 80 million to $ 34.63 billion. In the week under review, the special drawing rights received by the IMF (International Monetary Fund) decreased by $ 2 million to $ 1.5 billion. Similarly, the reserve reserves with the IMF also decreased by 10 lakhs to $ 4.96 billion.