Forex reserves increase by 1.8 billion to 421.8 billion

The country's foreign exchange reserves increased by USD 1.875 billion to USD 421.867 billion in the week ending May 31.

Reserve Bank weekly data released yesterday showed that foreign currency assets, which is a major component of the overall reserves, rose by USD 1.946 billion to USD 394.134 billion. 

According to the RBI data, after



remaining stable for the past few weeks, gold reserves declined by USD 62.9 million to USD 22.958 billion. The special drawing rights with the International Monetary Fund fell by USD 2.3 million to USD 1.443 billion. 

The country's reserve position with the fund also declined by USD 5.3 million to USD 3.331 billion.