India’s forex reserves rise by $500 mn

Mumbai, May 3 :

India’s foreign exchange (forex) reserves rose by $499.8 million to $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.Forex

According to the RBI’s weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, jumped by $493.2 million to $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 $2 million to $1.84 billion.

The value of special drawing rights (SDRs) rose by $4.6 million to $4.47 billion.

However, the value of gold reserves remained unchanged at $21.56 billion.


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