India's forex reserves up by $1.99 bn to $419.99 bn

India's forex reserves increased by $1.994 billion to $419.992 billion for the week ended May 24 on swelling up of the core currency assets, the Reserve Bank said May 31.

The overall reserves had declined by $2.05 billion to $417.99 billion in the previous reporting week. The reserves had touched an all-time high of $426 billion in April 2018.

In the reporting week, foreign currency assets, which are a major component of the overall reserves increased $1.991 billion to $392.188 billion, the apex bank said.

Expressed in dollar terms, foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and the yen held in the reserves.