Forex reserves jump by USD 1.09 billion to USD295.45 billion

Foreign exchange reserves jumped by USD 1.088 billion to touch USD 295.45 billion due to an increase in foreign currency assets, the Reserve Bank of India (RBI) said here today.
In the previous reporting week, the reserves had surged by USD 954.6 million to USD 294.36 billion.
Foreign currency assets (FCAs), a major part of the overall reserves, increased by USD 1.07 billion to USD 267.97 billion for the week ended March 7, the RBI said.
FCAs, expressed in dollar terms, include the effect of appreciation/depreciation of the non-US currencies such as the euro, pound and yen held in its reserves.

The gold reserves remained stable at USD 20.978 billion, the data showed.
The special drawing rights also rose by USD 12.6 million to USD 4.481 billion, while the country's reserve position with the IMF increased by a USD 5.7 million to USD 2.017 billion, the apex bank said.