(MENAFN) Data by the Reserve Bank of India (RBI) showed that the country's foreign exchange (forex) increased by USD1.94 billion, hitting USD311.85 billion for the week ended May 2, driven by a sharp jump in overseas currency assets, Gulf News reported.
The reserves had gained USD499.8 million, reaching USD309.91 billion for the week ended April 25, according to the RBI.
Foreign currency assets, the biggest component of the forex reserves, jumped by USD2.54 billion to USD284.57 billion in the week under review, while it increased by USD493.2 million to USD282.03 billion in the previous week, RBI said.
India's reserve position with the International Monetary Fund increased by USD1.2 million, hitting USD1.84 billion, while the value of special drawing rights increased by USD3 million to USD4.48 billion.
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