Foreign Exchange Reserves
- Recently, India’s foreign exchange reserves have increased by $708 million to $602.161 billion.
- India's foreign exchange reserves refer to assets held by the Reserve Bank of India (RBI) in foreign currencies.
- It consists of foreign currency assets (FCA), gold, special drawing rights, and the International Monetary Fund (IMF) reserve position.
- It acts as a cushion, provides liquidity and ensures to meet its external obligations.
- It helps maintain stability of the nation’s currency and economy.
- It can fluctuate based on economic dynamics and financial ....
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