Forex kitty up $63.7 mn to $362.79 bn

Mumbai: India's forex reserves increased by USD 63.7 million to USD 362.79 billion for the week ended February 24 due to surge in currency assets, the Reserve Bank said today.

Total reserves had declined by USD 56.8 million to USD 362.73 billion in the previous reporting week.

Foreign currency assets (FCAs), a major component of the overall reserves, increased by USD 63.4 million to USD 339.783 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.

Gold reserves remained unchanged during the week at USD 19.248 billion.

The special drawing rights with the International Monetary Fund rose by a marginal USD 100,000 to USD 1.444 billion; while India's reserve position with the Fund, too, increased by USD 0.2 million to USD 2.318 billion, RBI said.