Forex reserves rise to record $476 billion

Daily Current Affairs Dated On 22-Feb-2020 It monitors progress in implementing the FATF Recommendations through “peer reviews” (“mutual evaluations”) of member countries The FATF Secretariat is housed at the OECD headquarters in Paris. The objectives of the FATF are to set standards and promote effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system. The FATF is, therefore, a “policy-making body” which works to generate the necessary political will to bring about national legislative and regulatory reforms in these areas

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The country’s foreign ex Mumbai change reserves swelled by $3.091 billion to a lifetime high of $476.092 billion in the week to February 14, mainly due to a rise in foreign currency assets, according to RBI data