Forex reserves move up $2 billion to $369.95 billion

Mumbai: India's forex reserves went up by $ 2.02 billion to $ 369.95 billion in the week to March 31 on a huge jump in currency assets, the Reserve Bank said today.

The forex kitty had increased by $ 1.15 billion to $ 367.93 billion in the previous reporting week.

Foreign currency assets (FCAs), a major component of the overall reserves, rose by $ 2.08 billion to $ 346.32 billion in the reporting week, the RBI said.

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

Gold reserves moved down by $ 45 million to $ 19.87 billion, it said.

The special drawing rights with the International Monetary Fund fell $ 5.1 million to $ 1.45 billion while India's reserve position with the IMF, too, dropped by $ 10.7 million to $ 2.32 billion, the apex bank added.