Forex reserves up $1.97 billion to $313.83 billion

MUMBAI: The foreign exchange reserves rose by $1.97 billion to $313.83 billion in the week ended May 9, on higher currency assets.

Previous week, the total reserves rose by $1.94 billion to $311.86 billion. Foreign currency assets (FCAs), a major part of the overall reserves, increased by $1.978 billion to $286.549 billion in the period, RBI said.

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 $20.965 billion, as per the RBI data.

The special drawing rights declined by $3.6 million to $4.476 billion, and the country’s reserve position with the IMF dipped $1.7 million to $1.838 billion in the period, the RBI weekly data showed.