County’s foreign exchange reserves surged $1.46 billion to $277.73 billion in the week ended October 4 on the back of a healthy growth in the key currency assets, the Reserve Bank said on Friday.
The reserves had dipped by $ 1.12 billion to $276.26 billion in the previous reporting week. The core foreign currency assets (FCAs), which form the largest chunk of the reserves, zoomed $ 1.4 billion to $ 249.33 billion for the week under review, the RBI said.
FCAs, expressed in dollar terms, include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen, held in the reserves. After remaining unchanged for five weeks, gold reserves increased $ 41.3 million to $21.76 billion, according to the RBI data.