Forex reserves up $2.37 billion to $363.17 billion

Mumbai: Country's foreign exchange reserves surged by USD 2.37 billion to USD 363.17 billion in the week to July 1, on account of increase in foreign currency assets (FCAs), Reserve Bank said Friday.

In the previous week, the reserves had fallen by USD 3.028 billion to USD 360.797 billion.

Foreign currency assets (FCAs), a major component of the overall reserves rose by USD 2.132 billion to USD 338.712 billion in the reporting week, RBI data showed.

FCAs, expressed in dollar terms, include the effect of appreciation/depreciation of non-US currencies such as the euro, pound and yen held in the reserves.

Gold reserves increased by USD 247.5 million to USD 20.576 billion.

The country's special drawing rights with International Monetary Fund dipped by USD 2.3 million to USD 1.487 billion and the reserve position decreased by USD 3.6 million to USD 2.395 billion, the central bank said.