The country's foreign exchange reserves rose by $1.26 billion to $295.25 billion for the week ended January 11, on the back of sharp rise in currency assets, the Reserve Bank of India said on Friday. The total reserves had slipped by $1.59 billion to $294.99 billion in the previous reporting week.
Foreign currency assets, a major component of the forex reserves, were up by $1.214 billion to $262.276 billion for the week ended January 11, the RBI said in its weekly statistical supplement. After plummeting in the previous reporting week, gold reserves remained unchanged at $27.22 billion, the apex bank said.
For the week under review, the special drawing rights (SDRs) were up by $31.3 million to $4.433 billion, while the country's reserve position with the IMF rose by $16.5 million to $2.324 billion.