India's forex reserves up $2.36 billion, led by foreign currency assets

India's foreign exchange reserves increased by $2.36 billion to $703 billion in the week ended April 17, driven by gains in foreign currency assets and gold

India’s foreign exchange reserves increased by $2.36 billion to $703 billion during the week ended April 17 on the back of a rise in foreign currency assets, the latest data from the Reserve Bank of India showed.

 

Foreign currency assets increased by $1.48 billion during the reported week. Meanwhile, gold reserves rose by $790 million to $122 billion during the same period.

 

The Special Drawing Rights were up by $78 million at $18.8 billion during the reported week. India’s reserve position with the International Monetary Fund was up by $14 million to $4.87 billion.