India's forex reserves surged by a whopping USD 5.04 billion to USD 291.3 billion in the week ended November 29 on account of a robust jump in foreign currency assets (FCAs), the Reserve Bank today said.
This is the fourth consecutive week when the country's reserves have jumped and logged one of the sharpest spikes in recent times.
In the week ago period, the reserves had risen by USD 2.691 billion to USD 286.26 billion.
FCAs, which form a major part of the overall reserves, rose by USD 5.071 billion to USD 263.736 billion for the week under review, the RBI said.
FCAs, expressed in dollar terms, include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen, held in reserves.
During the week under review, the gold reserves remained unchanged at USD 21.227 billion, while the special drawing rights rose by USD 12.2 million to USD 4.432 billion.
India's reserve position with the IMF fell by USD 46.2 million to USD 1.905 billion during the period, the apex bank data showed.
