• Source:PTI
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India Forex:  India's foreign exchange reserves climbed by $4.549 billion to an all-time high of $648.7 billion in the week ended May 17, the Reserve Bank of India said on Friday. This is the third consecutive week of increase in overall kitty, which stood at $644.151 billion in the previous reporting week ended May 17, with an increase of $2.561 billion.

In the week ended April 5, reserves scaled an all-time high of $648.562 billion after several weeks of increase. According to data released on Friday, in the week ended May 10, foreign exchange assets – a key component of reserves – increased by $3.361 billion to $569.009 billion.

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Expressed in dollar terms, foreign exchange assets comprise the effect of appreciation or depreciation of non-US units such as euro, pound, and yen held in foreign exchange reserves.

The RBI said gold reserves rose by $1.244 billion to $57.195 billion during the week. The apex bank said the special drawing rights (SDRs) increased by $113 million to $18.168 billion. In the week under review, India’s reserve position with the IMF declined by $168 million to $4.327 billion, data from the apex bank showed.

(With PTI's Input)

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