India’s forex reserves increase

India’s forex reserves increase

MUMBAI: 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.

Indo-Asian News Service

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