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Foreign exchange reserves rose $1.97 billion for the week ending May 9 to $ 313.83 billion, shows Reserve Bank of India data released on Friday. The reserves are near a level last seen in the week that ended on November 11, 2011 at $314.34 billion. Foreign currency assets rose $1.98 bn to $286.55 bn.
Gold reserves remained unchanged during the week. For the week under review, the Special Drawing Rights fell $3.6 million to $4.48 billion, while India's reserve position with the International Monetary Fund was down $1.7 million to $1.84 billion.
