India's Foreign Reserve: India's foreign exchange reserves climbed $2.561 billion to $644.151 billion in the week ended May 10, the Reserve Bank of India (RBI) said on Friday. In the last reporting week, the kitty had increased from $3.668 billion to $641.59 billion after three continuous weeks of decline.
In the week ended April 5, reserves attained an all-time high of $648.562 billion after multiple weeks of growth. For the week ended May 10, foreign exchange assets, a core component of reserves, increased $1.488 billion to $565.648 billion, according to data released on Friday.
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Expressed in dollar terms, foreign exchange assets include the impact of appreciation or depreciation of non-US units such as the euro, pound, and yen held in foreign exchange reserves. The RBI said gold reserves rose by $1.072 billion to $55.952 billion during the week.
The apex bank said special drawing rights (SDRs) grew $5 million to $18.056 billion. India's reserve position with the IMF contracted $4 million to $4.495 billion in the week under review, data from the apex bank demonstrated.
(With PTI's Input)