India's foreign exchange reserves continued to increase in the new financial year, gaining $2.974 billion to reach $306.647 billion for the week ended April 4, as currency assets rose, the Reserve Bank said on Friday.
In the previous week, ending March 28, total foreign exchange reserves had increased by a robust $5.038 billion to touch $303.673 billion, highest since December 2011.
For the week ended April 4, foreign currency assets, a major part of the overall reserves, rose $2.399 billion to $278.805
billion, RBI said on Friday.
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.
Gold reserves rose by $588.8 million to $21.566 billion, as per the RBI data.
The special drawing rights were down by $10.3 million to $4.447 billion, and the country's reserve position with the International Monetary Fund also declined by $4.3 million to $1.83 billion, the apex bank said.
