India's foreign exchange reserves continued their upward swing, crossing the $117 billion mark with further inflows of $1.53 billion for the week ended April 16.

The country's foreign exchange reserves increased from $116.06 billion to $117.59 billion during the period under review, according to the Reserve Bank of India's weekly statistical supplement issued in Mumbai on Saturday.

In the previous week ended April 9, the forex reserves had swelled substantially by $3.37 billion, boosted by inflows in public offerings of state-owned undertakings, including Oil and Natural Gas Corporation.

The foreign currency assets for the week ended April 16 surged by $1.543 billion to $112.103 billion.

The revaluation of the US dollar vis-a-vis other currencies and export remittances resulted in the rise in reserves.

Gold reserves and special drawing rights remained static at $4.198 billion and $2 million respectively.

India's reserve tranche position with the International Monetary Fund further declined by $11 million to $1.289 billion, the central bank added.

Loans and advances to the central government continued to have a nil balance while that to state governments also fell by Rs 114 crore (Rs 1.14 billion) to Rs 4,422 crore (Rs 44.22 billion), RBI said.