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Foreign exchange reserves rose by $1.94 billion for the week ending May 2 to $311.86 billion, shows Reserve Bank of India (RBI) data released Friday.
The reserves are near a level last seen in November 2011. The reserves stood at $314.34 billion for the week ending November 11, 2011.
Foreign currency assets, a key component of reserves rose by $2.54 billion to $284.57 billion. Gold reserves fell by $601 million to $20.97 billion during the week.
For the week under review, the Special Drawing Rights (SDRs) rose by $3 million to $4.48 billion, while India's reserve position with the International Monetary Fund was up $1.2 million to $1.84 billion.
