Forex reserves up $1.58 bn to $363.146 bn

Mumbai: India's foreign exchange reserves rose by USD 1.588 billion to USD 363.146 billion in the week to February 3 on a jump in core currency holdings and value of gold reserves, the Reserve Bank said on Friday.

In the previous week, the foreign exchange reserves had surged by USD 782.7 million to USD 361.557 billion.

Foreign currency assets (FCAs), a major component of the overall reserves, increased by USD 914.7 million to USD 340.126 billion in the reporting week, RBI said.

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

Gold reserves went up by USD 664.3 million to USD 19.248 billion, RBI said.

The special drawing rights with the International Monetary Fund rose by USD 3.8 million to USD 1.448 billion, while India's reserve position with the Fund too increased by USD 6 million to USD 2.324 billion, RBI said.