UK Government net reserves increased US$378 million in March to US$28.23 billion from US$27.85 billion at end of February, the HM Treasury said Friday. Meanwhile, gross reserves totaled US$49.29 billion, larger than the US$48.64 billion in the prior month.

The central bank net holdings of foreign currency and gold fell US$8 million in March. Bank of England foreign currency assets and liabilities mainly arise from the Bank's foreign exchange reserves, deposits placed with the Bank by overseas central banks and other customers, and other capital items.

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