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Foreign exchange reserves increase by USD 1.350 billion.

Mumbai: Reserve Bank said the foreign exchange reserves of India increased by USD 1.350 billion to touch a record high of USD 361.601 billion in the week to April 22.

Earlier, the reserves had risen by USD 333.7 million to USD 360.250 billion. The reserves increased on account of rise in foreign currency assets (FCAs), which is a major component of the overall reserves.

It said FCAs increased by USD 1.350 billion to USD 337.537 billion in the week under review. FCAs, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies such as the euro, pound and the yen held in the reserves.

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Publication:Daily the Pak Banker (Lahore, Pakistan)
Date:May 1, 2016
Words:114
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