India's Forex Reserves Increase USD 2.71-bn To USD 308.2-bn.

India's foreign exchange reserves rose by USD 2.71-billion to USD 308.2-billion on the back of an increase in foreign currency assets.The reserves had stood at USD 305.5-billion the week before.Foreign currency assets, the biggest component of the foreign reserves, went up by USD 2.7-billion to USD 277-billion for the week-ended April 8, the Reserve Bank said in its weekly data released this evening.Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of the non-US currencies, such as the Euro, Pound and Yen, held in the reserves, the apex bank said.The country's gold reserves remained unchanged at USD 22.97-billion at the end of the reporting week, the central bank said.Both the Special Drawing Rights (SDRs) and reserve position in the International Monetary Fund (IMF) witnessed an increase during the week, the RBI said.The SDRs were at USD 4.59-billion, up USD 34-million from the week before while there was a USD 21-million increase in India's reserve position in the IMF at USD 2.96-billion, the RBI data said.

Source : ibnlive.in.com