India’s foreign exchange reserves grew for the second consecutive week and totaled to $294.60 billion as on April 20, an increase of 1.46 billion, as per the Reserve Bank of India's weekly statistical. Total reserves had risen by $213 million to $293.14 billion in the previous reporting week.
Foreign currency assets which are a major component of the forex reserves rose by $1.45 billion to $260.21 billion. 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 stated.
The gold reserves remained unchanged at $27.02 billion. Special Drawing Rights (SDR) increased by $5.2 million to $4.457 billion, while the country's reserve position in the IMF also increased by a marginal $3.4 million to $2.904 billion.
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