India’s forex reserves rise to $309.44 bn

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RBIMumbai, April 19: India’s foreign exchange (forex) reserves rose by $2.79 billion to $309.44 billion for the week complete April 11, Reserve Bank of India (RBI) knowledge showed.

There was a pointy jump in foreign currency assets.

According to the RBI’s weekly applied mathematics supplement, foreign currency assets, the largest element of the forex reserves, rose by $2.74 billion to $281.55 billion.

Foreign currency assets, expressed in US dollar terms, embody the impact of appreciation or depreciation of non-US currencies control in reserve like the British pound, euro and yen.

India’s reserve position with the International fund (IMF) rose by $14.8 million to $1.84 billion.

The value of special drawing rights (SDRs) raised by $35.9 million to $4.48 billion. However, the value of gold reserves remained unchanged at $21.56 billion.

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