Foreign exchange reserves rise to રે 8 billion a week

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- Details disclosed by the Reserve Bank

New delhi date. Saturday 14 November 2020

The Foreign Exchange Reserve set a new record in the country ahead of the Diwali supper celebrations. The foreign exchange reserves increased by 8 billion in the week ended November 6, the Reserve Bank said.

A new record was also set on October 30 this year when the total foreign exchange reserves stood at 60 560.718 billion. It traded at 56 568.49 on November 6.

The rise in foreign currency assets has led to a sharp rise in foreign exchange reserves, the RBI said. According to the Reserve Bank, foreign currency assets (FAC) rose by 6. 6.403 billion to 52 524.742 billion in the week ended November 6.

FACs are usually expressed in dollars. However, it also includes the pound, euro, yen, etc. According to a PTI report, the country's gold reserves rose from 1. 1.328 billion to .5 37.587 billion. Special withdrawal rights to India from the International Monetary Fund increased from 70 7 million to 4 1.448 billion.

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