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As foreign exchange reserves decline, so do gold reserves

After hitting a record high, the country’s foreign exchange reserves fell by 29 29 million to 5 580.841 billion in the week ended December 25. This information has been given in the information of the Reserve Bank. At the beginning of the week ended December 16, the foreign exchange reserves increased by $ 2.633 billion, reaching an all-time record of $ 5631.131 billion.

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So the reduction

According to data released by the Reserve Bank of India, the decline in foreign exchange reserves (FCA) during the reporting period led to a decline in currency reserves. Foreign exchange assets constitute a significant portion of total foreign exchange reserves. According to the Reserve Bank’s weekly data, the FCA fell 25 253 million during the review period to $ 537.474 billion. The FCA is denominated in dollars, but includes other foreign currencies such as the euro, the pound and the yen.

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Gold reserves stood at .7 36.711 billion

According to the data, in the week ended December 25, the value of the country’s gold reserves decreased by ৮ 306 million to 7 7.111 billion. The country’s special drawing rights for the International Monetary Fund (IMF) also fell by মিল 4 million to $ 1.510 billion, with the reserves with the IMF rising by 6 276 million to 5. 5.145 billion.

What is foreign exchange reserves?

Foreign exchange reserves are funds or other assets managed by the country’s central banks, which are used to pay liabilities if necessary. Adequate foreign exchange reserves are crucial for a healthy economy. It provides much-needed support to the economy in the event of an economic crisis to support imports. These include the IMF’s foreign exchange reserves, gold reserves and other reserves, of which foreign exchange assets share the most after gold.

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