Forex reserves surge to $537.548 bn, gold reserves down at $37.26 bn

The country's reserve position with the IMF also increased by $6 million to $4.634 billion during the reporting week

The country's foreign exchange reserves rose by $2.296 billion to reach $537.548 billion in the week to August 21, RBI data showed on Friday.

In the previous week ended August 14, the reserves had declined by $2.939 billion to $535.252 billion.

The forex kitty had increased by $3.623 billion to reach a record high of $538.191 billion in the week ended August 7.

In the reporting week, the increase in reserves was mainly due to a jump in foreign currency assets (FCAs), a major component of the overall reserves.