India's foreign exchange reserves increased by $1.368 billion during the week ended May 10, official data showed on Friday.
According to the Reserve Bank of India's weekly statistical supplement, the overall forex reserves rose to $420.055 billion from $418.687 billion reported for the week ended May 3.
| Article and Schedule Quiz | Start Test! |
India's forex reserves comprise Foreign Currency Assets (FCAs), gold reserves, Special Drawing Rights (SDRs) and India's reserve position with the International Monetary Fund (IMF).
On a weekly basis, FCAs, the largest component of the forex reserves, edged higher by $1.358 billion to $392.227 billion.
Besides the US dollar, FCAs consist of 20-30 per cent of the other major global currencies.
The RBI's weekly data showed that the value of the country's gold reserves was stagnant at $23.021 billion.
However, the SDR value inched higher by $3 million to $1.454 billion, while the country's reserve position with the IMF inched up by $7 million to $3.351 billion.
