Forex reserves up $500 million to $310 billion

Foreign exchange reserves shot up by $499.8 million to $309.913 billion in the week to April 25 on an increase in the currency assets.

Last week, after rising for seven consecutive weeks, the total reserves had marginally declined by $31.6 million to $309.413 billion.

Foreign currency assets, a major part of the overall reserves, surged $493.2 million to $282.029 billion

for the period under review, Reserve Bank of India said on Friday.

FCAs, expressed in dollar terms, include the effect of appreciation/depreciation of the non-US currencies such as the euro, pound and yen held in its reserves.

The gold reserves remained unchanged at $21.566 billion, as per the RBI data.

The special drawing rights increased $4.6 million to $4.477 billion, and the country's reserve position with the Internional Monetary Fund rose $2 million to $1.839 billion, the data showed.