India's Forex Reserves Rise After Four Weeks By $1.46 Billion

India's foreign exchange reserves rose for the first time in five weeks and stood at $562.40 billion as of the week ended March 3, the Reserve Bank of India's (RBI) statistical supplement showed on Friday. The reserves increased by $1.46 billion at the end of last week after falling by a total of $15.8 billion in the previous four weeks, the data showed. Foreign currency assets (FCA) which is the largest component in reserves, climbed by $1.181 billion in the week ending March 3rd. While gold reserves picked up by $282 million to $42.033 billion in the latest week. Also, the reserve position in the IMF surged by $8 million to $5.107 billion in the week under review. However, SDRs dipped by $13 million to $18.174 billion in the week ending March 3rd.

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