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India's forex reserves rise to USD 309.44 bn

Posted on Apr 19 2014 | IANS

Mumbai, April 19 : India's foreign exchange (forex) reserves rose by USD 2.79 billion to USD 309.44 billion for the week ended April 11, Reserve Bank of India (RBI) data showed.

There was a sharp jump in foreign currency assets.

According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, rose by USD 2.74 billion to USD 281.55 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) rose by USD 14.8 million to USD 1.84 billion.

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

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