Mumbai, May 18 :
India’s foreign exchange (forex) reserves rose by $1.97 billion to $313.83 billion for the week ended May 9, led by a sharp jump in overseas currency assets, Reserve Bank of India (RBI) data showed.
According to the RBI’s weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, jumped by $1.97 billion to $286.54 billion in the week under review.
The foreign currency assets rose by $2.54 billion to $284.57 billion in the week under review.
The RBI said the foreign currency assets, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies held in reserve such as the pound sterling, euro and yen.
However, India’s reserve position with the International Monetary Fund (IMF) decreased by $1.7 million to $1.83 billion.
The value of special drawing rights (SDRs) also fell. The SDRs wre down $3.6 million to $4.47 billion.
The value of gold reserves remained the same in the period under review at $20.96 billion. The reserves declined by $601 million at $20.96 billion in week ended May 2.