Mumbai, May 3: India’s foreign exchange (forex) reserves rose by USD 499.8 million to USD 309.91 billion for the week ended April 25, 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 USD 493.2 million to USD 282.03 billion.
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.
India’s reserve position with the International Monetary Fund (IMF) increased by USD 2 million to USD 1.84 billion.
The value of special drawing rights (SDRs) rose by USD 4.6 million to USD 4.47 billion.
However, the value of gold reserves remained unchanged at USD 21.56 billion.