India's forex reserves rose $2.4 bn in Dec 3 week: RBI

India's foreign exchange reserves grew by $2.41 billion during the week ended December 3 to $296.40 billion after two consecutive weeks of decline, as per the latest RBI data.

In contrast, the country's forex reserves had stood at $293.98 billion at the end of the previous week, the Reserve Bank of India (RBI) data released today shows.

Foreign currency assets, a major component of India's forex kitty, rose by $1.98 billion to $267.23 billion during the week ended December 3, as per the data.

The RBI's foreign currency assets are calculated in US dollar terms after taking into account the effect of appreciation or depreciation of non-US currencies like the euro, pound and yen held in the country's reserves.

After remaining static for three weeks, the country's gold reserves rose by $456 million to $22.12 billion, the apex bank said.

Meanwhile, India's Special Drawing Rights (SDRs) dipped by $16 million to $5.066 billion during the week ended December 3, while the country's reserve position in the International Monetary Fund also slipped by $6 million to $1.968 billion, the RBI data showed.