RBI noted in a latest update that foreign currency assets comprise multi-currency assets that are held in multi-asset portfolios as per the existing norms, which conform to the best international practices followed in this regard. As at end-September 2024, out of the total FCA of USD 617.07 billion, USD 515.30 billion was invested in securities, USD 60.11 billion was deposited with other central banks and the BIS and the balance USD 41.66 billion comprised deposits with commercial banks overseas. With the objective of exploring new strategies and products in reserve management while diversifying the portfolio, a small portion of the reserves is being managed by external asset managers. Total FCA stood at USD 5.70 billion as at end-March 2024. Latest data marks a spurt of 8.24%.
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