FOREX RESERVES RISE TO RECORD $476 BILLION

Why in News?

• The country’s foreign ex­ Mumbai change reserves swelled by $3.091 billion to a lifetime high of $476.092 billion in the week to February 14, mainly due to a rise in foreign currency assets, according to RBI data
• The Foreign exchange reserves of India consists of below four categories:
  1. Foreign Currency Assets
  2. Gold
  3. Special Drawing Rights (SDRs)
  4. Reserve Tranche Position