Foreign exchange reserves rise by $1.46 billion.

Mumbai: The foreign exchange reserves grew for the second consecutive week, rising by USD 1.46 billion to USD 294.60 billion on the back of a rise in the core foreign currency assets.

Total reserves had risen by USD 213 million to USD 293.14 billion in the previous reporting week.

Foreign currency assets, a major component of the forex reserves, rose by USD 1.45 billion to USD 260.21 billion for the week ended April 20, the Reserve Bank said today.

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 gold reserves were unchanged at USD 27.02 billion.

For the week under review, Special Drawing Rights increased by USD 5.2 million to USD 4.457 billion, while the country's reserve position in the IMF also increased by a marginal USD 3.4 million to USD 2.904 billion, the apex bank data showed.

Source : zeenews.india.com