Forex reserves up $827.4 million to $350.8 billion

Mumbai: Country's foreign exchange reserves jumped by USD 827.4 million to USD 350.805 billion in the week to October 2, with rise in foreign currency assets, according to RBI data.

In the previous week, the reserves had fallen by USD 2.042 billion to USD 349.978 billion.

Foreign currency assets (FCAs), a major component of overall reserves, grew by USD 717.6 million to USD 327.295 billion in the reporting week, the RBI said in a statement.

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

The gold reserves increased by USD 116.5 million to USD 18.151 billion in the reporting week.

India's special drawing rights with the International Monetary Fund declined by USD 1.7 million to touch USD 4.047 billion in the week under review, while the nation's reserve position with the Fund decreased by USD 5 million to USD 1.311 billion, the apex bank said.