Forex reserves rise $1.8 bn to $297.3 bn as of March 14

Reserves had jumped by $1 billion to $295.45 billion in the previous reporting week

India's foreign exchange reserves continued upward trend for the third straight week, expanding by $1.838 billion to $297.28 billion in the week ended March 7 on a rise in the currency assets.

The reserves had jumped by $1.09 billion to $295.45 billion in the previous reporting week.

Foreign currency assets (FCAs), a major part of the overall reserves, increased by $1.842 billion to $269.814 billion in the week ended March 7, RBI said today.

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 $20.978 billion, the data showed.

The special drawing rights were down by $2.6 million to $4.478 billion, while India's reserve position with the IMF decreased by a $1.2 million to $2.016 billion, the apex bank said.