India's forex reserves up $205 million to $295.7 billion

FCAs shot up by $164.3 million to $268.634 billion in the week under review: RBI

After declining for two weeks, India's foreign exchange reserves rose by $204.9 million to $295.71 billion in the week ended December 27 on the back of an increase in the core currency component, RBI said today.

The reserves had declined by $12.6 million in the previous reporting week to $295.50 billion.

Foreign currency assets (FCAs), which form a major part of the overall reserves, shot up by $164.3 million to $268.634 billion in the week under review, the Reserve Bank 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 were unchanged at $20.603 billion.

The special drawing rights were up by $30.3 million to $4.461 billion, while there was a $10.3 million spike in India's reserve position with the IMF at $2.009 billion during the period, the RBI data showed.