India’s Foreign Reserves up by $2.563: RBI data

According to the RBI data, India’s foreign exchange reserves rose by $2.563 billion to touch a record high of $581.131 billion in the week to December 18. This rise was a result of increased reserves due to rise in Foreign Currency assets. FCAs surged by $1.382 billion to $537.727 billion, stated the Reserve Bank of India’s weekly data showed. FCA’s are used to back liabilities and influence monetary policy.

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