Forex reserves up $1.4 billion

India’s foreign exchange reserves jumped for the second consecutive week, rising $1.40 billion to $295.25 billion in the week ended April 12, on the back of increase in foreign currency assets. In the previous reporting week, the forex reserves had gained $1.19 billion to $293.84 billion. Foreign currency assets, which constitute a major component of the reserves, were up $1.386 billion to $262.90 billion, Reserve Bank’s weekly statistical supplement said. During the week under review, gold reserves remained unchanged at $25.69 billion, the apex bank said. The special drawing rights were up by $11.5 million to $4.345 billion, while the country’s reserve position with the IMF rose $6.1 million to $2.310 billion, the RBI data showed.

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