India's forex reserves jumps to $262.306 billion

India's forex reserves rose by $1.667 billion to $262.306 billion, for the week ended May 29, as compared to $260.639 billion in the previous week.

Reserves had gone up by $6 billion for the week ended May 22 after falling by $1.734 billion in the week before.

Foreign bill assets, during the week, jumped to $251.456 billion, up $1.291 billion, as compared to $250.165 billion in the antecedent week.

Foreign bill assets bidding in US dollar agreement accommodate the aftereffect of acknowledgment or abrasion of non-US currencies (such as Euro, Sterling, Yen) captivated in reserves, RBI said in its account report.

Country's gold reserves, during the week, went up to $9.604 billion as adjoin $9.231 billion in the antecedent anniversary while the appropriate cartoon rights (SDR) stood banausic at $1-million, the axial coffer said.

India's assets position in the International Monetary Fund (IMF) rose to $1.245 billion as compared to $1.242 billion in the antecedent week, RBI said.