India's forex reserves rise $1.73 billion to $487.04 billion
The increase in reserves in the week ended May 15 was on account of a rise in foreign currency assets (FCA), a major component of the overall reserves. FCA rose by $1.12 billion to $448.67 billion in the reporting week, RBI data showed.
The country's foreign exchange reserves increased by $1.73 billion to $487.04 billion in the week to May 15, which is equivalent to 12 months of imports, according to the Reserve Bank of India.
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