Forex reserves up $1.218 bn to $364 bn

India's forex reserves increased by $1.218 billion to $364.01 billion in the week ended March 3, helped by a rise in foreign currency assets, the Reserve Bank said on Friday.

In the previous week, the reserves had shot up by $63.7 million to $362.79 billion.

Foreign currency assets (FCAs), a major component of the overall reserves, rose by $576.9 million to $340.360 billion in the reporting week, RBI said.

Expressed in US dollar terms, they include the effects of appreciation/depreciation of non-US currencies, such as the euro, pound and the yen held in the reserves.

After remaining unchanged for many weeks, gold reserves increased by $665.6 million to $19.914 billion, the apex bank said.

The special drawing rights with the International Monetary Fund declined by $9.8 million to $1.433 billion. India's reserve position with the Fund dipped by $14.6 million to $2.302 billion, RBI said.