Foreign exchange reserves (symbolic picture)
According to the Reserve Bank data, the growth in FCA in the week ended 9 April 2021 has led to a rise in foreign exchange reserves.
In the week ended April 2, the foreign exchange reserves had decreased by $ 2.42 billion to $ 576.28 billion and in the week ended 26 March 2021, the foreign exchange reserves had decreased by $ 2.99 billion to $ 579.28 billion. Foreign exchange reserves stood at an all-time high of $ 590.18 billion for the week ended 29 January 2021.
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Increase in foreign exchange reserves due to increase in FCAAccording to the Reserve Bank data, in the reporting week ended April 9, 2021, the increase in foreign currency assets, ie FCA (Foreign Currency Assets), has led to an increase in foreign exchange reserves. Foreign currency assets are the main part of the total foreign exchange reserves.
According to the Reserve Bank’s weekly data, the FCA increased by $ 3.02 billion to $ 539.45 billion in the reporting period. The FCA is denominated in dollars, but includes other foreign currency assets such as the euro, pound and yen.
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The country’s gold reserves also increased
According to the Reserve Bank data, the country’s gold reserves rose by $ 1.30 billion to $ 35.32 billion in the week under review. According to the data, the special drawing rights received in the IMF increased by $ 6 million to $ 1.49 billion in the week under review. Similarly, the reserve reserves with the IMF also increased by $ 24 million to $ 4.95 billion.