Forex reserves rise to 10-month high

INDIA'S FOREIGN EXCHANGE reserves rose to a 10-month high of $588.78 billion for the week ended April 28, the Reserve Bank of India's (RBI) statistical supplement showed on Friday. That is an increase of $4.5 billion from the previous week.

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Foreign currency assets, a major component of the reserves, increased nearly $5 billion to $519.485 billion. Expressed in dollar terms, foreign currency assets include the effect of appreciation or depreciation of non-US units like the euro, pound and yen held in the foreign exchange reserves.