India's forex reserves rise by $2.3 billion

Indias foreign exchange reserves rose by 2.3 billion US dollars, reaching over 703 billion dollars for the week ending April 17.

According to the Reserve Bank of India, foreign currency assets, the largest component of the reserves, increased by 1.48 billion to over 557 billion US dollars during the week.

Gold reserves climbed by 790 million to over 122 billion US dollars. Special Drawing Rights rose by 78 million to 18.84 billion US dollars.

Meanwhile, the central banks position in the International Monetary Fund edged up by 14 million to 4.87 billion US dollars.