The foreign exchange reserves increased during the week ending January 11, by $1.26 billion to $296.25 billion due to higher foreign currency assets, the RBI said on Friday.
In the previous reporting week, the total reserves had slipped by $1.59 billion to $294.99 billion on the back of heavy decline in gold reserves and the core currency assets.
During the week under review, foreign currency assets, a major component of the forex reserves, were down by $1.21 billion to $262.27 billion for the week ended January 4, the RBI said in its ‘Weekly Statistical Supplement’. Gold reserves remained unchanged at $27.22 billion. The special drawing rights rose by $31.3 million to $4.432 billion, while the country’s reserve position with the IMF slipped by $16.5 million to $2.32 billion.