Forex reserves up $932.4 million to $360.77 billion

Mumbai: Country's foreign exchange reserves surged for the second consecutive week by USD 932.4 million to USD 360.775 billion in the week to January 20 on account of rise in foreign currency assets, the Reserve Bank said today.

The reserves in the previous week had increased by USD 687.9 million to USD 359.842 billion.

Foreign currency assets (FCAs), a major component of the overall reserves, increased by USD 926.4 million to USD 338.434 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 remained unchanged in the week at USD 18.584 million, the RBI said.

The special drawing rights with the International Monetary Fund rose by USD 2.3 million to USD 1.442 billion, while India's reserve position with the Fund, too, increased by USD 3.7 million to USD 2.314 billion, RBI said.