India's forex reserves rise to $286.26 bn

The forex reserves rose for the third consecutive week, surging by a robust $2.691 billion to $286.26 billion on a healthy jump in foreign currency assets, the Reserve Bank said.

The country's reserves had jumped $1.459 billion to $283.57 billion in the previous reporting week.

Foreign currency assets, which constitutes a major part of the overall reserves, rose $2.761 billion to $258.66 billion for the week ended November 22, the RBI bank said.

Foreign currency assets expressed in dollar terms include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen, held in reserves.

In the week under review, the gold reserves continued to remain unchanged at $21.227 billion, the central bank said.

The special drawing rights rose by $9.1 million to $4.421 billion. The country's reserve position with the IMF fell by $78.4 million to $1.951 billion in the week under review, RBI data showed.