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India's forex reserves rise by $758.3 million

Mumbai, May 5 - India's foreign exchange (forex) reserves rose by $758.3 million to $295.36 billion for the week ended April 27, official data showed. Forex reserves had risen by $1.46 billion to $294.60 billion in the previous week.

Foreign currency assets, the biggest component of the forex reserves kitty, rose by $736.4 million to $260.95 billion during the week under review, according to the weekly statistical supplement of the Reserve Bank of India (RBI), the country's central bank.

The RBI did not provide any reasons for the rise.

The foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies such as pound sterling, euro and yen held in reserve, the RBI said.

The value of special drawing rights (SDRs) rose by $13.2 million to $4.47 billion and reserves with the International Monetary Fund (IMF) increased by $8.7 million to $2.91 billion.

However, gold reserves remained unchanged at $27.02 billion.


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