Home / Financial News / India’s forex reserves surge $1.94 bn to $311.9 bn

India’s forex reserves surge $1.94 bn to $311.9 bn

Country’s foreign exchange reserves rose by $ 1.944 billion to $ 311.857 billion in the week ended May 2 on higher currency assets.

Last week, the total reserves rose by $ 499.8 million to $ 309.913 billion.

Foreign currency assets (FCAs), a major part of the overall reserves, surged $ 2.541 billion to $ 284.571 billion in the period, 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.

The gold reserves dipped $ 601 million at $ 20.965 billion, as per the RBI data.

The special drawing rights increased $ 3 million to $ 4.480 billion, and the country’s reserve position with the IMF rose $ 1.2 million to $ 1.840 billion in the period, the RBI weekly data showed.


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