This is the fourth consecutive week of gain in the country's foreign exchange reserves.

Forex reserves had soared by USD 2.69 billion to USD 286.26 billion during the week previous to this.

Foreign currency assets, the biggest component of the forex reserves, soared by USD 5.07 billion to USD 263.73 billion, according to the RBI's weekly statistical supplement. Foreign currency assets had increased by USD 2.76 billion to USD 258.66 billion in the previous week.

According to the RBI, the foreign currency assets expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies held in reserve such as the pound sterling, euro and yen.

The central bank did not give any reason for such a sharp increase in the foreign currency assets.

The value of special drawing rights (SDRs) rose by USD 12.2 million to USD 4.43 billion during the week under review.

However, India's reserve position in the International Monetary Fund (IMF) dropped by USD 46.2 million to USD 1.90 billion.

The value of India's gold reserves remained unchanged at USD 21.22 billion during the week under review.


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