Foreign exchange reserves (symbolic picture)
According to Reserve Bank data, the decline in FCA in the week ending March 26 has resulted in a fall in the total money reserves.
Earlier, in the week ended March 19, the foreign exchange reserves had increased by $ 233 million to $ 582.271 billion. Earlier, in the week ended 29 January 2021, the foreign exchange reserves had touched a record high of $ 590.185 billion.
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Fall in FCAAccording to the Reserve Bank’s data, in the week ended March 26, the total currency reserves have declined due to the fall in foreign currency assets, ie, FCA (Foreign Currency Assets). Foreign currency assets constitute a significant part of the total foreign exchange reserves. According to the Reserve Bank’s weekly data, the FCA declined by $ 3.226 billion to $ 537.953 billion in the reporting week. The FCA is denominated in dollars, but includes other foreign currency assets such as the euro, pound and yen.
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Increase in gold reserves
According to the Reserve Bank data, the country’s gold reserves rose by $ 276 million to $ 34.907 billion in the week under review. According to the data, the special drawing rights received by the country in the IMF (International Monetary Fund) decreased by $ 9 million to $ 1.49 billion in the week under review. Similarly, the reserve reserves with the IMF also decreased by $ 27 million to $ 4.935 billion.