Forex reserves up $1.218 billion to $364 billion

Mumbai: India's forex reserves increased by USD 1.218 billion to USD 364.01 billion in the week ended March 3, helped by a rise in foreign currency assets, the Reserve Bank said today.

In the previous week, the reserves had shot up by USD 63.7 million to USD 362.79 billion. Foreign currency assets (FCAs), a major component of the overall reserves, rose by USD 576.9 million to USD 340.360 billion in the reporting week, RBI said.

Expressed in US dollar terms, they include the effects of appreciation/depreciation of non-US currencies, such as the

euro, pound and the yen held in the reserves.

After remaining unchanged for many weeks, gold reserves increased by USD 665.6 million to USD 19.914 billion, the apex bank said.

The special drawing rights with the International Monetary Fund declined by USD 9.8 million to USD 1.433 billion. India's reserve position with the Fund dipped by USD 14.6 million to USD 2.302 billion, RBI said.

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