India’s forex reserves at new high: As we all know that India’s foreign exchange reserves are making day-by-day new records. Now again touched a new record high of $ 642.24 billion in the week ended September 3.
The data released by the Reserve Bank of India:
The country’s foreign exchange reserves increased by $ 889 million (about Rs 66,712 crore in Indian currency) to Rs 64,245 crore (Rs 48.18 lakh crore) in the week ended September 3, 2021.
India’s forex reserves
Forex reserves rose by $1,666 billion to $63,356 billion for the week ended August 27.
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Value of foreign currency assets –FCA
The value of foreign currency assets (FCA), a major contributor to forex reserves, rose by $821 billion to $57,981 billion in the week ended September 3.
Gold reserves rose by $64 billion to $3.808 billion during the week under review.
Special Acquisition License
The country’s Special Acquisition License (STO) with the International Monetary Fund rose by $3 billion to $1,943 billion. In addition, the country’s reserves in the fund rose by $1 billion to $512 billion, according to Reserve Bank data.
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Other currencies, including the euro, pound and yen, are held in foreign exchange reserves. When these are revalued in dollars, foreign exchange reserves change according to fluctuations in external value.