India's foreign exchange reserves grew by $862 million to $294.82 billion on the back of a rise in the core foreign currency assets (FCAs) for the week ended March 16, the Reserve Bank of India said in a release here today.
The total reserves had dipped by $1.03 billion to $293.96 billion in the previous week.
FCAs, a major component of the forex reserves, rose by $910.6 million to $259.49 billion for the week ended March 16, the release said.
FCAs, expressed in US dollar terms, include the effect of appreciation or depreciation of the non-US currencies such as the euro, pound and yen, held in the reserves.
The gold reserves were unchanged at $28.13 billion during the period, the apex bank said.
For the week under review, Special Drawing Rights (SDRs) decreased by $29.7 million to $4.419 billion, while the country's reserve position in the IMF also dipped by $18.5 million to $2.784 billion, the RBI added.
