India’s foreign exchange reserves rose by $4.235 billion during the week ended May 8th, RBI data showed. According to the RBI`s weekly statistical supplement, the overall forex reserves increased to $485.313 billion from $481.078 billion reported for the week ended May 1.
India`s forex reserves comprise foreign currency assets (FCAs), gold reserves, special drawing rights (SDRs) and India`s reserve position with the International Monetary Fund (IMF).
On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $4.233 billion to $447.548 billion. Similarly, the value of the country`s gold reserves increased but marginally. It rose by $13 million to $32.291 billion. However, the SDR value slipped by $3 million to $1.423 billion.
In addition, the country`s reserve position with the IMF fell by $8 million to $4.051 billion.