India's foreign exchange reserves surged by whopping USD 2.671 billion to USD 366.781 billion for the week ended March 17 on account of increase in foreign currency assets, the Reserve Bank said today.
In the previous week, the reserves had risen by USD 98.6 million to USD 364.109 billion.
Foreign currency assets (FCAs), a major component of the overall reserves, rose by USD 2.645 billion to USD 343.101 billion in the reporting week, the RBI said.
Expressed in US dollar terms, FCAs 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 at USD 19.914 billion.
The special drawing rights with the International Monetary Fund was up by USD 10 million to USD 1.444 billion; India's reserve position with the Fund, too, increased by USD 15.9 million to USD 2.320 billion, RBI said.
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