Forex reserves rise to $309.44 billion

Business

oi-Sunil

By Sunil Fernandes

Published: Saturday, April 19, 2014, 11:50 [IST]

India's foreign exchange reserves jumped by $2.797 billion to $309.444 billion in the week ended April 11 on the back of a healthy rise in currency assets, PTI has reported.

Total reserves had shot up by $2.974 billion to $306.647 billion in the previous week.

Foreign currency assets (FCAs), a major part of the overall reserves, rose by $2.746 billion to $281.552 billion for the week ended April 11, the Reserve Bank of India (RBI) said on Friday. FCAs, expressed in dollar terms, include the effect of appreciation/depreciation of the non-US currencies such as the euro, pound and yen held in its reserves.

Gold reserves remained unchanged at $21.566 billion, as per the RBI data.

The special drawing rights rose by $35.9 million to $4.483 billion, and India's reserve position with the IMF jumped by $14.8 million to $1.841 billion, the apex bank said.