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Foreign exchange reserves rose by $1.09 billion to $314.93 billion for the week ending May 16, show Reserve Bank of India (RBI) data released on Friday. The reserves are near a level previously seen on October 28, 2011. The reserves stood at $320.39 billion for the week ending October 28, 2011.
Foreign currency assets, a key component of reserves rose $1.27 billion to $287.82 billion. Gold reserves remained unchanged during the week.
For the week under review, the Special Drawing Rights fell $14.5 million to $4.46 billion, while India’s reserve position with the International Monetary Fund was down $158.1 million to $1.68 billion.
