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Forex kitty continues to rise, scales new high at $1.4 bn

Foreign currency assets (FCAs), a major part of the overall reserves, increased by USD 1.351 billion to USD 316.238 billion for the week ended March 27, showed the central bank data.

Forex kitty continues to rise, scales new high at $  1.4 bn

The foreign exchange reserves continued their upward momentum and scaled a new life time high at USD 341.378 billion, rising by USD 1.386 billion for the week ended March 27, the Reserve Bank data showed.

The continuing rally is being aided by increase in foreign currency assets, the apex bank said. In the previous reporting week, the forex reserves had increased by USD 4.261 billion to USD 339.99 billion.

Foreign currency assets (FCAs), a major part of the overall reserves, increased by USD 1.351 billion to USD 316.238 billion for the week ended March 27, showed the central bank data.

Foreign currency assets, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies such as the euro, pound and the yen, held in the reserves.

The country’s gold reserves remained stable at USD 19.837 billion for the reporting week, a trend it has been maintaining for almost a year now.

The special drawing rights with the International Monetary Fund, rose by USD 26.2 million to USD 4.004 billion, while the country’s reserve position with the Fund also increased by USD 8.5 million to USD 1.298 billion, the apex bank said.

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