Forex reserves jump $1.4 b to $295 b

India's forex reserves jumped for the second consecutive week, rising USD 1.40 billion to stand at USD 295.25 billion for the week ended April 12, due to an increase in core currency assets.

The reserves had gained USD 1.19 billion to USD 293.84 billion in the previous week. Foreign currency assets (FCAs), a major component of the reserves, were up USD 1.386 billion to USD 262.90 billion for the week ended April 12, Reserve Bank's weekly statistical supplement said today.

FCAs, expressed in 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. Gold reserves remained unchanged at USD 25.69 billion during the week, the apex bank said. For the week under review, the special drawing rights (SDRs) were up by USD 11.5 million to USD 4.345 billion, while India's reserve position with the IMF rose USD 6.1 million to USD 2.310 billion, the RBI data showed.

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