Forex reserves up $932.4 mn to $360.77 bn

Gold reserves remained unchanged in the week at $18.584 million, says RBI

Country's foreign exchange reserves surged for the second consecutive week by $932.4 million to $360.775 billion in the week to January 20 on account of rise in foreign currency assets, the Reserve Bank said on Friday.

The reserves in the previous week had increased by $687.9 million to $359.842 billion.

Foreign currency assets (FCAs), a major component of the overall reserves, increased by $926.4 million to $338.434 billion in the reporting week, RBI said.

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

Gold reserves remained unchanged in the week at $18.584 million, the RBI said.

The special drawing rights with the International Monetary Fund rose by $2.3 million to $1.442 billion, while India's reserve position with the Fund, too, increased by $3.7 million to $2.314 billion, RBI said.