Forex reserves stand at nearly $320 billion

India's foreign exchange reserves in the week to December 19 surged by a whopping $3.163 billion to $319.997 billion on the back of a massive jump in foreign currency assets.

Last week, reserves had increased by $2.172 billion to $316.833 billion, RBI data showed here today.

In the week to July 25, 2014, the reserves had touched $320.56 billion, an inch away from the life-time high of $320.79 billion on September 2, 2011.

The foreign currency assets (FCAs), a major constituent of overall reserves, jumped by $3.310 billion to $295.670 billion in the week ended December 19.

FCAs, expressed in dollar terms, include the effect of appreciation and depreciation of non-US currencies such as the euro, pound and yen, held in reserves.
 
The country's gold reserves remained unchanged at $18.985 billion in the reporting week.

Special Drawing Rights (SDRs) decreased by $29.2 million to $4.199 billion, while the country's reserve position with the IMF dipped by $117.6 million to $1.142 billion during the week, as per RBI data.