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After a drop last week, India's foreign exchange reserves rose by $2.78 billion to $343.20 billion in week ended April 17, 2015, according to RBI.
During the week ended April 17, the foreign currency assets, a major component of forex reserves, jumped $2.727 billion to $318.859 billion.
Gold reserves remained unchanged at $19.038 billion, while Special Drawing Rights (SDRs) and India’s reserve position with the IMF increased marginally by $45.6 million to $4.005 billion and $14.8 million to $1.298 billion, respectively.
In the previous reporting week, the reserves had fallen by $2.593 billion in the week ended April 10, snapping a consecutive three-week rise. The reserves had partly fallen due to valuation changes and partly due to RBI selling dollars during that week. The rupee was under pressure in the previous reporting week due to dollar's global strength and RBI had to sell dollars to support the Indian currency.
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