India’s forex jump $1 bn to $293.37 bn
Mumbai: The country's foreign exchange reserves rose for the second consecutive week, going up by $1.05 billion to $293.37 billion on a rise in the core currency assets, the Reserve Bank said on Saturday.
The total reserves had risen by nearly $2 billion to $292.3 billion in the previous reporting week.
Foreign currency assets, a major component of the forex reserves, were up by $1.06 billion to $260.41 billion for the week ended March 22, the Reserve Bank said.
Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of the non-US currencies, such as the euro, pound and yen, held in the reserves, the apex bank said.
The gold reserves remained unchanged at $26.292 billion, it said.
For the week under review, special drawing rights decreased by $7.5 million to $4.342 billion, while the reserve position in the IMF slid by $4.1 million to $2.317 billion, the apex bank data showed.