MUMBAI : The uncertainties surrounding the covid-19 pandemic has forced the Reserve Bank of India (RBI) to reshuffle the weightages of its foreign currency assets (FCA).
RBI’s deposits with other central banks and the Bank for International Settlements (BIS) accounted for 33.37% of FCA at March-end, up from 28.83% at the end of September last year.
This rebalancing is at the cost of RBI’s investment in securities, as a percentage of its FCA, falling from 63.72% to 59.57% during the same period.
FCA, gold, special drawing rights issued by the International Monetary Fund and reserve tranches maintained with it by RBI, make up for the total foreign exchange reserves.