Forex reserves jump by $168 million to $421 billion

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The country's foreign exchange reserves rose by USD 167.8 million to USD 420.758 billion in the week to March 2 on an increase in core currency assets, the Reserve Bank of India said today.
In the previous reporting week, the reserves had declined by USD 1.13 billion to USD 420.591 billion.
The reserves had touched a life-time high of USD 421.914 billion on February 9. It had crossed the USD 400-billion mark for the first time in the week to September 8 last year, but has been fluctuating since then.
In the week to March 2, the foreign currency assets, a major component of the overall reserves, rose by USD 177.2 million to USD 395.642 billion, the apex bank said.

Expressed in the US dollar terms, the foreign currency assets include the effect of appreciation or depreciation of the non-US currencies such as the euro, the pound and the yen held in the reserves.
The value of gold reserves increased by USD 8.1 million to USD 21.522 billion, the central bank said.
The special drawing rights with the International Monetary Fund declined by USD 7.4 million to USD 1.529 billion.
The country's reserve position with IMF also declined by USD 10.1 million to USD 2.064 billion, the RBI said.