Foreign exchange reserves jumped from $ 1.088 billion, to touch $295.45 billion due to an increase in foreign currency assets, the Reserve Bank of India (RBI) said here on Friday.
In the previous reporting week, the reserves had surged by $ 954.6 million to $ 294.36 billion. Foreign currency assets (FCAs), a major part of the overall reserves, increased by $ 1.07 billion to $ 267.97 billion for the week ended March 7, the RBI said. FCAs, expressed in dollar terms, include the effect of appreciation/depreciation of the non-US currencies such as the euro, pound and yen held in its reserves.
The gold reserves remained stable at $ 20.978 billion, the data showed. The special drawing rights also rose by $ 12.6 million to $4.481 billion, while the country's reserve position with the IMF increased by a $5.7 million to $ 2.017 billion, the apex bank said.