Forex reserves up $827.4 mn to $350.8 bn

Foreign currency assets grew by $717.6 million to $327.295 billion in the reporting week

Country's foreign exchange reserves jumped by $827.4 million to $350.805 billion in the week to October 2, with rise in foreign currency assets, according to RBI data.

In the previous week, the reserves had fallen by $2.042 billion to $349.978 billion.

Foreign currency assets (FCAs), a major component of overall reserves, grew by $717.6 million to $327.295 billion in the reporting week, the RBI said in a statement.

FCAs, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies such as the euro, pound and the yen, held in the reserves.

The gold reserves increased by $116.5 million to $18.151 billion in the reporting week.

India's special drawing rights with the International Monetary Fund declined by $1.7 million to touch $4.047 billion in the week under review, while the nation's reserve position with the Fund decreased by $5 million to $1.311 billion, the apex bank said.