(Photo: Reuters)
India's foreign exchange (forex) reserves rose by $499.8 million to $309.91 billion for the week ended April 25, led by a sharp jump in overseas currency assets.
According to the Reserve Bank of India's (RBI) weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, jumped by $493.2 million to $282.03 billion.
Foreign currency assets, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies held in reserve such as the pound sterling, euro and yen.
India's reserve position with the International Monetary Fund (IMF) increased by $2 million to $1.84 billion.
The value of special drawing rights (SDRs) rose by $4.6 million to $4.47 billion.
However, the value of gold reserves remained unchanged at $21.56 billion.
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