Forex reserves up by $2.29 bn

After declining for two consecutive weeks, the country's foreign exchange reserves jumped by $2.294 billion to $316.801 billion on the back of healthy rise in foreign currency assets last week.

The reserves had declined by $112 million in the previous reporting week to $314.507 billion.

Foreign currency assets, the biggest component of the foreign exchange reserves, were up by $2.227 billion to $284.526 billion for the week ended July 22, the Reserve Bank of India said in its weekly data released this evening.

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.