Forex reserves jump $3 bn, reach $306.65 bn

India's foreign exchange reserves continued to increase in the new financial year, gaining USD 2.974 billion to reach USD 306.647 billion for the week ended April 4, as currency assets rose, the Reserve Bank said today.
In the previous week, ending March 28, total foreign exchange reserves had increased by a robust USD 5.038 billion to touch USD 303.673 billion, highest since December 2011.
For the week ended April 4, foreign currency assets (FCAs), a major part of the overall reserves, rose USD 2.399 billion to USD 278.805 billion, RBI said today.
FCAs, expressed in dollar terms, include the effect of appreciation/depreciation of the non-US currencies such as the euro, pound and yen held in its reserves.

Gold reserves rose by USD 588.8 million to USD 21.566 billion, as per the RBI data.
The special drawing rights were down by USD 10.3 million to USD 4.447 billion, and the country's reserve position with the IMF also declined by USD 4.3 million to USD 1.83 billion, the apex bank said.