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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



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