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.

Leave a Reply

x

Check Also

Debate on Article 370 marked by posturing, says RSS

The Rashtriya Swayamsevak Sangh (RSS) is recalibrating its discourse on its demand ...

Street cautiously positive on JSPL post coal mine

Jindal Steel and Power (JSPL), which witnessed its lowest point in the ...