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Information about foreign exchange reserves

Every country keeps foreign exchange reserves to protect itself from economic crisis, which is used to maintain the value of the country’s currency. Foreign exchange reserves are kept safe by the central bank . Every country pays special attention to this. In India it is maintained by the Reserve Bank of India . Most of the countries take loans from the World Bank and foreign exchange reserves are used to exchange them. Information about foreign exchange reserves is being given on this page.

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What are Foreign Exchange Reserves?

Foreign exchange reserves are the currency or funds or other assets held in reserve by the central bank of any country, which are used to pay liabilities in international accounts. The central government of the country deposits funds with the Reserve Bank of India on behalf of its financial institutions. This can be in any form, i.e. Euros, Dollars or other assets, most of the currency can be stored in the form of Dollars. Foreign exchange reserves are known as Forex reserves or FX reserves.

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funds included in foreign exchange reserves

Foreign exchange reserves include foreign banknotes, foreign bank deposits, foreign treasury bills and short-term and long-term foreign government securities held by the Reserve Bank. Money deposited with the International Monetary Fund (IMF) is also a part of foreign exchange reserves. Foreign exchange reserves are generally considered part of international investment. Along with domestic debt, foreign exchange reserves are also mentioned in the balance sheet of the Reserve Bank of India.

How does capital come into foreign exchange reserves?

The main source of foreign exchange reserves is foreign investment, when foreign companies invest in India, they have the currency of their country. He changes the currency in the bank of India, after which he starts his business in India, in this way the foreign currency reaches the Reserve Bank of India through the bank. The Reserve Bank of India maintains stocks of dollars, euros and yen. The major share in foreign exchange reserves is made up of US dollars. Due to increase or decrease in the exchange rate of currencies, the value of foreign exchange reserves also increases or decreases.

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Also read: What is Repo Rate and Reverse Repo Rate?

India‘s Foreign Exchange Reserves

The Reserve Bank of India released a report on 22 February 2019, according to which India’s total capital reserves have increased from $399.28 billion to $401.78 billion. Capital reserves consist of various elements such as foreign exchange reserves, gold reserves, special drawing rights (SDR), and resources from the International Monetary Fund (IMF). India has seen a significant increase in its foreign exchange reserves, which have increased by $2.06 billion to $374.06 billion.