“New Monetary Mechanisms” – Seeds of Wisdom RV/GCR Update(s) from Goldilocks 3-3-24

Goldilocks and Seeds of Wisdom “India’s forex reserves experienced a notable increase, rising by $2.975 billion to reach $619.072 billion for the week ending February 23, as reported by the Reserve Bank of India (RBI). This surge follows a previous week where reserves had slightly decreased by $1.132 billion. Major Components1. Foreign Currency Assets:Increased by $2.405 billion to $548.188 billion.Foreign currency assets encompass various currencies such as the euro, pound, and yen, reflecting their valuation against the US dollar. 2. Gold Reserves:Rose by $472 million to $47.848 billion during the week. 3. Special Drawing Rights (SDRs):Witnessed an uptick of $89 million to…