Forex reserves marginally up at $278.4 bn

Country's foreign exchange reserves jumped marginally to $278.431 billion for the week ended March 5 from $278.357 billion in the previous week.

Foreign currency assets, during the week, grew to $254.072 billion as compared to $253.991 billion in the week-ago period, the Reserve Bank of India (RBI) said in its weekly report here today.

Foreign currency assets expressed in US dollar terms include the effect of appreciation or depreciation of non-US currencies, such as Euro, Sterling and Yen held in the reserves, the RBI said.

Gold reserves, during the week, stood unchanged at $17.920 billion while special drawing rights slightly declined to $5.047 billion as against $5.053 billion in the previous week, the RBI said.

Country's reserve position in the international monetary fund stood almost unchanged at $1.392 billion, the RBI said.