India's forex reserves zoom $2.79 bn to $309.44 bn

India's forex reserves zoom $2.79 bn to $309.44 bn

India's foreign exchange reserves jumped by USD 2.797 billion to USD 309.444 billion in the week ended April 11 on the back of a healthy rise in currency assets.

The total reserves had shot up by USD 2.974 billion to USD 306.647 billion in the previous week.

Foreign currency assets (FCAs), a major part of the overall reserves, rose USD 2.746 billion to USD 281.552 billion for the week ended April 11, 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 remained unchanged at USD 21.566 billion, as per the RBI data.

The special drawing rights rose USD 35.9 million to USD 4.483 billion, and India's reserve position with the IMF jumped USD 14.8 million to USD 1.841 billion, the apex bank said.

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